Tesla has been profitable for three consecutive years, with global deliveries exceeding 900,000 in 2021

Tesla released its fourth quarter 2021 and full-year 2021 earnings. Under non-GAAP, Tesla's net profit attributable to common shareholders for the full year was $7.64 billion, which has been profitable for three consecutive years. Click on the video number below to watch the full version of the video

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On January 27, Capital State learned that Tesla (TSLA. US) released its fourth quarter 2021 and full year 2021 financial results.

Tesla said in the earnings report that 2021 is a breakthrough year for the company, and there are no longer any doubts about the feasibility of producing electric vehicles and whether they can be profitable.

For the full year of 2021, Tesla's global deliveries grew by 87 percent to 940,000 units. Tesla delivered 308,600 electric vehicles in the fourth quarter, breaking 300,000 for the first time in the quarter.

Judging from the delivery of different models, in 2021, the delivery volume of Model3/Y will be 911242 units, an increase of more than 1 times year-on-year. ModelS/X deliveries were 24,980 units, down 56% year-over-year.

Driven by car deliveries, Tesla's total revenue in the fourth quarter reached $17.72 billion, up 65% year-over-year and higher than analysts' expectations of $16.57 billion.

Under GAAP, Tesla's net profit attributable to common shareholders in the fourth quarter was $2.321 billion, up 760% year-on-year; Gross margin was 27.4%, compared to 19.2% in the year-ago quarter and 26.6% in the previous quarter. The gross profit margin of automobile manufacturing was 30.6%, compared with 24.1% in the same period last year.

For the full year of 2021, Tesla's total revenue was $53.823 billion, up 71% year-on-year; Gross margin was 35.3%, compared to 21% in the previous year; Net income attributable to common shareholders under GAAP was $5,519 million, up 665% year-over-year.

It is worth noting that under the non-GAAP, Tesla's net profit attributable to common shareholders for the whole year was $7.64 billion, which has been profitable for three consecutive years.

While this year's delivery data is excellent, Tesla believes that the supply chain is still a limiting factor affecting the delivery of the company's vehicles, and the supply chain restrictions may continue until 2022. For future delivery targets, Tesla maintained last year's claims, saying that in the coming years, the company expects the average annual growth rate of deliveries to reach 50%.

In the future, the company will continue to expand production capacity through new factories in Berlin and Austin, as well as existing plants in Shanghai and Fremont.

Tesla CEO Musk said on a fourth-quarter earnings call that Tesla is looking for a location for the new gigafactory.

He also said Tesla would not launch a new car this year. This year's focus is on expanding production, and if new models are introduced this year, total car production will decline, so there will be no new models this year.

Musk also revealed that new models such as the CyberTrcuk and Roadster will have a lot of engineering designs. Electric pickup truck Cyberteruck, electric van Semi and sports car Roadster will be delayed until next year' production and delivery. The current goal is to build 250,000 CyberTrucks per year.

Tesla CFO Zach Kirkhorn said on the earnings call that the Model Y is key because it has a much higher margin than the Model 3. In addition, the localization of the Shanghai Gigafactory is also an important factor, because localization has a great help to profit margins. Price increases in some markets have also helped to improve profit margins.

For the future business focus, Kirkhorn said that in the future, Tesla's software business should be the main focus, because the profit margin of the software business is very high. When FSDs and Robotaxis finally appear, this will be true.

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