On January 27, Tesla released the fourth quarter and full year of fiscal 2021 financial report data, showing that Tesla's total revenue in the fourth quarter was $17.719 billion (about 112 billion yuan), an increase of 65% year-on-year, and net profit was $2.321 billion (about 14.67 billion yuan), an increase of 760% year-on-year.
For the full year of 2021, Tesla's total revenue reached $53.823 billion, up 71% year-on-year; net profit was $7.64 billion, up 211% year-on-year. Tesla achieved two consecutive years of profitability for the first time, and its fourth-quarter revenue also exceeded analysts' expectations, performing quite brightly. However, Tesla still faces a serious capacity shortage, and the supply chain shortage may run through 2022, and the challenge of increasing production capacity is still very large.
Musk said on the earnings call that Tesla does not plan to build a new gigafactory this year, but will continue to look for new addresses that can be used for construction before the end of the year. The current focus is on the Texas Gigafactory and the Berlin Gigafactory, both of which have produced a small number of cars and will continue to expand production this year. And Tesla does not plan to launch new models this year, worried about affecting the total production of the car, but will optimize the existing models to a certain extent.
Last year, Tesla became the object of everyone's attention, and despite the continuous negative public opinion, it is undeniable that Tesla's sales growth is indeed very rapid. Total annual sales reached 936,000 units, and domestic sales reached 484,000 units, accounting for more than half. Tesla can achieve such high results in 2021, mainly thanks to the Shanghai Gigafactory and the Chinese market, china has made great contributions to the development of Tesla.
Despite the sharp increase in sales and revenue last year, Tesla's current situation is still difficult, and the first major barrier in front of it is the issue of production capacity. At present, the production capacity of popular models Model 3 and Model Y mainly relies on the Shanghai Super Factory, and the production capacity of about 50,000 vehicles per month cannot meet the market demand. Tesla's official website shows that the delivery period of the two models is 12 to 16 weeks, and it is now necessary to wait at least last month to book.
In addition, Tesla is also in arrears with about 1.2 million Cybertron electric pickups, which have not yet entered the mass production stage. Tesla Supercar Roadster and heavy truck Semi should also have a lot of orders that have not been delivered in mass production. Therefore, Tesla must seize the time to speed up production capacity, deliver the orders on hand, and really have no energy to develop new models.
Previously, there were rumors that Tesla would launch a 160,000 yuan entry-level model this year, and now the rumors are self-defeating, and so on. This year's competition in the electric vehicle market will certainly be more intense, and I hope that Tesla can withstand the pressure and quickly increase the production capacity.