What shortage of chips? Tesla achieves record fourth quarter and full-year sales
The strong fourth quarter of 308,600 vehicles gave Tesla annual sales of 936,000, up 87% from the 2020 total, and above the 900,000 mark that had been the target set by de many analysts.
“Taking a step back, with the chip shortage being a major surplus to the automotive space and logistics issues globally, those delivery numbers were to die for,” said Dan Ives, analyst for Wedbush Securities, in a statement. note to customers on Sunday. He said Wall Street’s forecast of 265,000 Tesla sales in the fourth quarter would have brought annual sales to 892,000. The 900,000 sales target Tesla easily achieved was a “better number in the eyes of the street.” , according to Ives.
Other automakers are all expected to report lower fourth-quarter sales when they release U.S. figures next week. Tesla reports only global sales, but across the industry, global auto sales are expected to be significantly lower in the fourth quarter.
“The industry ran out of vehicles and sales stagnated in the second half of the year,” said Charlie Chesbrough, chief economist at Cox Automotive. “Total sales in the second half of 2021 were the slowest of a decade. Demand is healthy, but supply and production disruptions have controlled the industry. You can’t sell what you don’t have not.”
So while Telsa’s share of the electric vehicle market may decline somewhat in the face of new competition, the demand for electric vehicles is growing even faster, allowing Tesla to continue to experience strong growth.
“While there are many competitors in the electric vehicle arena, Tesla continues to dominate the market share, as evidenced again this quarter while battling the chip shortage,” Ives said.
Tesla predicted that with new factories near Austin, Texas and Berlin poised to start full-scale production in 2022, it is expected to have annual global sales growth of 50% or more for at least the next few years. coming years.