Tesla’s car deliveries surging despite industrywide chip shortage

Tesla over the weekend introduced a rise in gross sales for first quarter of this yr -- a formidable feat by Elon Musk's automobile maker.
Visible China Group by way of Getty Pictures

Tesla delivered 310,000 automobiles within the first quarter, up roughly 68% from the identical interval in 2021, the corporate mentioned Saturday — a formidable feat contemplating different automakers have reported declines in gross sales as a consequence of an ongoing scarcity of pc chips.

Elon Musk’s electrical automobile maker failed to satisfy analyst expectations of 312,000 automobiles.

However the gross sales enhance is welcome information contemplating that different corporations have been hamstrung by the shortage of pc chips and different components brought on by the disruption to world provide chains.

Tesla broke its previous quarterly supply report of 308,600 automobiles, which was set only one quarter in the past, from October by means of December of 2021.

Tesla delivered 185,000 automobiles within the first quarter of final yr.

The worldwide pc chip scarcity has bedeviled almost all automakers, however Tesla appears to have handled the shortages higher than the remainder of the business.

Ford and Normal Motors mentioned final week that they'll every halt manufacturing at a Michigan plant as a consequence of components shortages.

Tesla has managed to face up to the continuing scarcity in pc chips and different components.

by way of REUTERS

Wedbush analysts mentioned they consider 20,000 to 25,000 gross sales that will have occurred within the first quarter have now been pushed into the second quarter as a consequence of provide and logistics points.

“We stay steadfastly bullish on the Tesla story and consider when factoring in all of the manufacturing headwind dynamics this was a modestly bullish print,” Wedbush analysts mentioned in a observe.

Final yr the corporate delivered a report 936,000 automobiles, an 87% enhance over 2020 numbers.

Whereas Musk’s firm has offered extra automobiles, different corporations have been pressured to droop manufacturing as a consequence of a scarcity in components.

AFP by way of Getty Pictures

The corporate mentioned in February that it expects 50% annual development in gross sales, which means it expects about 1.4 million automobiles to be delivered this yr.

However on a convention name with analysts, Musk mentioned the chip scarcity would cease the corporate from rolling out any new fashions this yr.

Tesla has charged into 2022 with the wind at its again. Musk lately unveiled its new gigafactory in Berlin, which will probably be key to increasing the corporate’s European footprint.

Subsequent week, Tesla is planning an official launch bash for its gigafactory in Austin.

With Publish wires