The global automotive industry is experiencing a chip shortage crisis, and Tesla delivered about 940,000 vehicles in 2021, maintaining a 50% delivery growth guide.
On January 27, Tesla announced its fourth quarter and full year financial results for fiscal 2021. The significant increase in deliveries led Toss tesla's quarterly and annual financial performance to record highs.
Tesla said in a statement that the supply chain crisis may continue until 2022. "With the supply chain becoming a major constraint, our plants have been operating below capacity for several consecutive quarters, which could continue into 2022."
Elon Musk returned to the earnings call and said tesla is looking for a location for a new gigafactory, which will be announced as soon as the end of this year. He also said that Tesla's focus this year is on expanding production, and the company is expected to still complete more than 50% of the delivery volume growth.
The supply chain crisis will ease next year
Consultancy AlixPartnersy estimates that the chip crisis cost automakers $210 billion in lost sales in 2021. Musk also tweeted last year about the supply chain problem: This year's supply chain is a nightmare, and it's not over yet.
Against the backdrop of the vehicle supply chain crisis still not being lifted, Tesla maintained a high level of delivery. Tesla delivered more than 936,000 electric vehicles worldwide in 2021, an 87 percent increase from 2020. In the fourth quarter of 2021, Tesla delivered 308,600 electric vehicles.
Tesla maintains its annual delivery growth target of 50 percent in fiscal 2022 and says it expects deliveries to grow at an average annual rate of 50 percent over the coming years.
Tesla also said that with the Fremont and Shanghai factories alone, it can achieve 50% of the target. This also means that if the new Austin and Berlin factories are successfully put into operation, Tesla's deliveries will exceed 50% this year. Musk revealed that Tesla will look for a new gigafactory site at the end of the year.
Tesla's 4680 battery was announced on Battery Day 2020 and continues to receive market attention. Tesla brought 4680 battery dynamics at the latest earnings conference. The Texas Gigafactory is said to produce the 4680 and structural components and begin delivery after the certification is complete. The first 4680 battery cars will be delivered this quarter.
Musk said Tesla's focus this year is on expanding production. In order to ensure that production capacity continues to grow, no new models will be launched this year. Cybertruck, Semi, Roadster sports cars will be launched in 2023, and Musk expects annual production of Cybertrucks to reach 250,000 in the future.
He also said that Tesla is not currently advancing the development of a $25,000 electric car, and what really matters is when the car can achieve self-driving, which will make transportation costs drop significantly. Currently, Tesla has nearly 60,000 cars in the United States that have opened up beta FSD fully autonomous driving capabilities.
It has been profitable for three consecutive years
According to the financial report, Tesla achieved revenue of $53.823 billion in 2021, an increase of 71% year-on-year; net profit attributable to shareholders reached $5.519 billion, a year-on-year increase of 665%. In the fourth quarter, Tesla's revenue reached $17.72 billion, up 65% year-over-year, better than analysts expected $16.57 billion, and net profit attributable to shareholders was $2.321 billion, up 760% year-over-year.
Tesla said it achieved 87% delivery growth in 2021 and achieved the highest quarterly operating margin for mass production OEMs, which shows that electric vehicles have more market prospects than fuel vehicles. However, some analysts believe that in the more promising electric vehicle market, General Motors and Ford May be the biggest winners in the future.
Survey data from Bank of America shows that Tesla's market share in the U.S. could drop to just 19 percent by 2024. This market share will be lower than that of traditional automakers.
Analysts believe that 2022 is the beginning of the commercialization of electric vehicles, many newly established electric vehicle manufacturers and established car manufacturers have begun to launch new product offensives, and the listing of a series of new models will impact Tesla's market share of 69%. At the same time, the total sales of electric vehicles are expected to be about 1 million in 2022 and 3 million in 2024, and the price war that may accompany it will further affect Tesla's sales.
On the positive side, Tesla is not only profitable for three consecutive years after turning a profit, but also gradually getting rid of its dependence on carbon emissions trading revenues. Tesla's regulatory credit income for the full year last year was $1.465 billion, down 7 percent year-over-year, according to the earnings report. Tesla's argument that electric cars can be profitable is a few points stronger.