Tesla makes record profit in the last quarter of 2021

Tesla Model 3

Tesla’s accountants can look back on the past year with satisfaction. The automaker ended the last quarter of 2021 with a record profit of $2.3 billion, or €2.05 billion. Despite this, Tesla states in a statement that the problems surrounding the chip shortage have not passed the company.

Tesla started a decent final sprint in the last quarter of last year. The company delivered a record number of 308,600 cars, with which Tesla tapped almost one million over all of 2021. As a result of that production spurt, turnover rose by 65 percent in the last quarter to the equivalent of €15.8 billion. Profits rose by 760 percent, however, much faster. This strong profit growth is partly due to the new factory in Shanghai, where it can produce cars more cheaply. Tesla previously indicated that the Chinese factory is important for the cars that end up outside America.

For the whole of 2021, Tesla’s accountants recorded a profit of €4.9 billion in the books on turnover of €47.9 billion. Tesla said in a statement that these numbers could have been much better if the chip shortage hadn’t thrown a spanner in the works. Like other automakers, Tesla is struggling with parts and chips shortages. According to the EV builder, this is the main limiting factor on production. Tesla expects the problems to continue for the foreseeable future.

Emission rights

Tesla’s profits don’t just come from car sales. Because Tesla makes cars that do not emit CO2 on paper, it can sell emission rights to car manufacturers that can help them achieve their CO2 targets. However, Tesla’s revenue from this decreases significantly. In the last quarter, the sale of emission rights yielded a converted €280 million, 22 percent less than a year earlier.

– Thanks for information from Autoweek.nl

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