With the global semiconductor crisis raging on, Automobile manufacturer, Tesla has broken and set a new record, effectively exceeding Wall Street Journal’s expectations in quarterly deliveries.
The company while revealing its quarterly deliveries on Sunday said it supplied in its fourth-quarter 308,600 cars, surpassing analysts’ calculations of 263,026 units.
This signalled a six consecutive quarter after its report highlighted unprecedented record deliveries with the Electric vehicle company reaching a delivery margin of 70 percent in Year-over-Year (YoY), almost a 30 percent increase from its previous quarter.
Elated Tesla CEO and owner, Elon Musk expressed his delight at the new development when he posted on Twitter: “Great work by Tesla team worldwide!”.
2021 came with its challenge for the car company after facing fierce competition and regulatory scrutiny from the Chinese government in the wake of ‘consumer complaints about product safety’. But it appears that motivated Tesla more as it heightened and increased production in the country.
Tesla’s production of Electric Vehicles in China are sent to Europe and some Asian regions with the manufacturer annually ramping up its deliveries by 87 percent YoY, rising to a whopping 936,172 vehicles in 2021 alone.
Elon Musk had last year boasted his company has the capacity to sustain its annual growth to exceed 50 percent for “quite a while.”
The new development was enough to capture the attention of managing partner at venture capital firm Loup Ventures, Gene Munster, who said on Sunday that Tesla ‘has beaten all the odds’.
“The first is the demand for their products is through the roof. And the second is they’re doing a great job of meeting that demand,” he added.
He further opined that his expectation for the Elon Musk’s company is predicated on the company’s ability to increase deliveries to 1.3 million vehicles in 2022.
Tesla’s Chief Financial Officer (CFO), Zachary Kirkhorn had in October last year revealed the company would not bank on a set prediction as to when the company will have the capacity to increase production to its new factories in Texas and Berlin, adding that these factories would have a significantly higher capacity as they will use new technologies and new teams.
The company had intimated the public of its plans to develop its production vehicles at both factories by the end of 2021, but is yet to reveal if it has met its target.
It is of note that Deutsche Bank in a report on Friday posited that it was expecting Tesla to create an estimate of 1.5 million vehicles this year, even with the global chip shortage biting hard in the the tech sector.
Ayoola Faseyi, an Abuja based Journalist with interest in Technology and Politics. He is a versatile writer with articles in many renowned News Journals.
He is the Co-Founder of media brand, The Vent Republic.
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