Tesla posts best ever quarterly sales with 201,304 cars sold – USD1.14 billion profit; Model 3 and Y bestsellers

Tesla has just posted its best quarterly sales performance ever, selling 201,304 vehicles globally during the second quarter of 2021. That is a 121% increase over the same period last year, and the bulk of those sales came from the Model 3 and Model Y. Only 1,895 units were from the Model S and Model X.

This helped the automaker achieve its largest ever quarterly profit of US$1.14 billion (RM4.83 billion), a sum roughly equal to its total profit in the 12 months prior to the quarter. The amount is also more than 10 times what it earned in Q2 2020. Revenue also doubled to US$11.9 billion (RM50.4 billion), it said.

According to Automotive News Europe, Tesla said the semiconductor shortage posed a legitimate production concern during the second quarter, but praised its employees for working “extremely hard to keep production running as close to full capacity as possible. With global vehicle demand at record levels, component supply will have a strong influence on the rate of our delivery growth for the rest of this year.”

During an earnings call, company CEO Elon Musk added that the chip crunch situation is quite serious, forcing temporary production stoppages at some of its plants for an undisclosed amount of time. However, Tesla was able to mitigate the supply shortfall by using alternative chips and rewriting new software.

Musk also said Tesla faced other supply issues with modules that control airbags and seatbelts, adding that its second half performance will depend largely on chip supply. “It does seem like it’s getting better, but it’s hard to predict,” he said.

The post Tesla posts best ever quarterly sales with 201,304 cars sold – USD1.14 billion profit; Model 3 and Y bestsellers appeared first on Paul Tan's Automotive News.

from Paul Tan's Automotive News
Read The Rest:paultan...