Limited by supply chain issues, Tesla will not launch new models this year

Commercial Crypto, January 27 (Shao Feng) recently reported that Tesla got rid of supply chain problems in 2021, and its revenue more than tripled compared with the same period last year, easily exceeding Wall Street's expectations for the quarter. The company's adjusted earnings were $2.9 billion, up significantly from $903 million in the year-ago quarter and well above the $2.6 billion forecast by analysts surveyed by Refinitiv. Revenue was $17.7 billion, up 65% year-over-year.

The result was full-year revenue of $7.6 billion and revenue of $53.8 billion.

Musk's message to investors is that Tesla is shelving plans for a new car due to supply chain issues facing the company. "We're not going to launch new models this year. It doesn't make any sense. We're still going to be limited by parts," Musk said on a conference call. "We will be ready to put them into production, hopefully next year."

Tesla has been talking about numerous vehicles in its product line, including Cybertruck pickups, semi-trucks, Roadster models, or $25,000 cars that will be cheaper than its existing models. Cheap also means lower profits, and I believe that in addition to supply chain problems, profits are the main reason why Musk shelved his new car plan.

Musk said bringing new products to market in 2021 "requires a lot of attention and resources." "The same will be true in 2022."

He added that the company was tackling "multiple supply chain challenges" but did not provide any details. "Chip shortages, while better than last year, are still a problem," he said.

In the most recent quarter, global supply chain, transportation, labor and other manufacturing challenges continued, limiting its ability to run its plants at full capacity.

For more than a year, the supply of spare parts, especially computer chips, has been a problem for the entire automotive industry. Faced with these shortages, Tesla managed to continue to increase production and sales. In contrast, its traditional automaker rivals have been forced to temporarily shut down factories and limit production. This has led to a tightening of new car inventories across the industry, with car buyer prices hitting record highs. In contrast, Tesla is able to meet the growing demand for electric vehicles from car buyers. Telsa sold 936,000 vehicles in 2021, nearly double the 500,000 vehicles sold in 2020.

Tesla said it expects to ramp up production at its existing plants in California and Shanghai, while boosting production at new plants outside Austin, Texas and Berlin.

Beginning in late 2021, Tesla is producing its latest model, the Model Y SUV, at its Austin plant. At present, although it has not yet obtained the final certification, it can only be used as a test car, but it can already be scheduled, and it is expected that it will be authorized soon in the future. As for its factory in Berlin, the company said it was finalizing the local government's manufacturing license.

Tesla said its vehicle supply fell from 11 days in the same period last year and an average of 28 days in 2017 to an average of 4 days of inventory this quarter. This is a very low supply.

Tesla's earnings report did not provide details on when its Cybertruck pickup will hit the market, saying only that it will be built in Austin "after the Model Y." However, according to Musk, the current new car plan will be shelved, still based on the current main model for production and sales, it can be seen that in 2022 it will be difficult to see the so-called pickup truck listed. Musk pushed it to the supply chain problem, but the actual reason is that everyone knows that the businessman is for profit, rather than spending energy on producing low-profit products, it is better to complete the orders that are currently in short supply and ensure the growth of high profits.