In response to the global supply chain crisis, Tesla has made profits for nine consecutive quarters

0
74

Tencent technology news on October 21, electric vehicle manufacturer Tesla has just released the third quarter financial report of 2021, realizing the milestone of profit for nine consecutive quarters, which is due to its good response to the global supply chain crisis to some extent.
In the third quarter, Tesla delivered about 241300 vehicles to customers, a year-on-year increase of about 73%, although the shortage of parts this year hindered the development of the carmaker. This growth is supported by the rise in sales of Tesla cars produced in China. In terms of production, China is now the location of Tesla’s largest automobile factory.
According to analysts surveyed by FactSet, Wall Street expects Tesla’s net profit in the third quarter to be about $1.3 billion, higher than $331 million in the same period last year, but in fact its net profit reached $1.62 billion. It is expected that the revenue will reach about US $13.6 billion, compared with us $8.8 billion in the same period last year. In fact, it is US $13.76 billion.
Analysts believe that Tesla pays more attention to vertical integration than many carmakers, which helps the company solve the chip shortage more smoothly than its competitors. Dan levy, an analyst at Credit Suisse Group AG, said: “given Tesla’s leading position in the software field, it has stronger ability in chip procurement.”
Tesla said in a statement: “various challenges, including semiconductor shortage, port congestion and rotating power outages, have always affected our ability to keep the plant running at full speed. However, we believe that our supply chain, engineering and production teams are always dealing with these global challenges with originality, agility and flexibility.”
Gene Munster, an analyst at venture capital firm Loup ventures, said: “Tesla’s share price has twists and turns, which is expected, but they have made great progress in profitability.”
According to FactSet data, analysts generally expect Tesla’s vehicle delivery in the fourth quarter to continue to climb to about 266000, which means that the company will deliver nearly 900000 vehicles to customers in 2021. The company has said that its goal is to increase the delivery volume by more than 50% on the basis of nearly 500000 vehicles last year.
However, finding a solution to the shortage of parts is not cheap. Elon Musk, chief executive of Tesla, said at the company’s annual general meeting earlier this month: “our supply chain is facing huge cost pressure. We don’t spend much money on transporting parts around the world, but I hope this pressure is only temporary.”
Musk also hinted at the meeting that the shortage of parts is one of the reasons for the delayed launch of Tesla products. The company delayed the launch of its electric pickup cybertruck by about a year. This model is likely to start production by the end of 2022. The company’s long delayed electric truck semi was originally scheduled to be delivered in 2019, but has now been further postponed to 2023.
“We are limited by multiple supply chain shortages, like many other commodity supply chains, not just chips,” Musk said
Tesla is expanding on three continents, and new factories in Austin, Texas and Berlin are about to be completed. Tesla’s goal is to put two new auto factories into operation by the end of this year to lay the foundation for growth. At the shareholders’ meeting earlier this month, musk said Tesla would move its headquarters to Austin, but did not give a specific date.
At the same time, Tesla is facing increasing scrutiny of its advanced driver assistance systems, which help with tasks such as in lane navigation on the highway.
Last week, the National Highway Traffic Safety Administration (NHTSA), the US vehicle safety regulator, expressed concern that the lack of transparency of such functions could undermine safety supervision. These functions do not enable the vehicle to drive automatically. After several crashes between Tesla cars and emergency vehicles, NHTSA launched an investigation into Tesla autopilot in August.
Tesla has not responded to a request for comment on the investigation. As part of the investigation, NHTSA has asked Tesla to provide a lot of information about its advanced driver assistance technology. The first batch of data will be submitted to NHTSA on Friday.
Tesla’s share price has been soaring in recent weeks, closing at $865.8 a share on Tuesday, close to the record closing price of $883.09 set in January. So far this year, the stock has risen 23%. (reviewed by Tencent technology / Jinlu)