“2021 was a breakthrough year for Tesla and electric vehicles in general,” announced Tesla CEO Elon Musk while commenting on the earnings results of his company. It was indeed a record year.
It’s the second consecutive year that Tesla is in the black, but the rise in income is nothing less than spectacular. Compared to the $721 million made in 2020, net profit for 2021 peaked at 5,5 billion, a whole different league.
The car manufacturer managed to deliver 936 172 vehicles over the entire year in an adverse industrial climate. Output nearly doubled.
The result is a few figures shy of what Elon Musk predicted. He aimed at 1 million vehicles, but it’s nevertheless an increase of a stunning 87% compared to the previous year. Despite the supply chain pressure, analysts had forecast a sunny outlook for Tesla, but with a result of $2,54 per share, the company beat the prophets at Wall Street.
In the last quarter, which traditionally forms a bridge toward the new year, Tesla assembled more than 300 000 units. That’s an increase of 70% compared to 2020, and with a profit of 2,3 billion, it accounts for almost half of the year’s earnings.
Tesla is shooting itself rapidly into the territory of established names like Audi, BMW, and Mercedes, with a forecast of further production growth of 50% soon. Other premium brands like Alfa Romeo, Jaguar/Land Rover, and Volvo are in the back mirror.
Two key models
Two key models account for the surge in deliveries. With deliveries totaling 911 208 units, the Model 3 and Model Y have become top players worldwide. The European market confirms that popularity. The Tesla Model 3 is the best sold BEV in the EU, with sales double as high as the Renault Zoe, which ranks second. The Model 3 accounted for 139 600 units last year.
Despite these flourishing financial results, the American manufacturer of premium EVs takes a cautious attitude toward the year to come. To avoid putting brakes on its delivery pipeline, it was decided not to produce any new models in 2022. This means that the Cybertruck, the Roadster, and the promised budget car have all been delayed.
Nonetheless, the company is looking for new locations to build additional plants. The factory in Berlin is still painstakingly waiting for permits to get going.