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Tesla car deliveries surging despite industrywide chip shortage - The News Pig

Tesla car deliveries surging despite industrywide chip shortage

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

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

However the gross sales improve 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 international provide chains.

Tesla broke its outdated quarterly supply file of 308,600 automobiles, which was set only one quarter in the past, from October by means of December of 2021.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 12 months.

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

Ford and Basic Motors mentioned final week that they are going to every halt manufacturing at a Michigan plant resulting from components shortages.

Tesla has managed to resist the continuing scarcity in pc chips and different components.
through REUTERS

Wedbush analysts mentioned they consider 20,000 to 25,000 gross sales that may have occurred within the first quarter have now been pushed into the second quarter resulting from 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 word.

Final 12 months the corporate delivered a file 936,000 automobiles, an 87% improve over 2020 numbers.

While Musk's company has sold more cars, other companies have been forced to suspend manufacturing due to a shortage in parts.
Whereas Musk’s firm has bought extra automobiles, different corporations have been compelled to droop manufacturing resulting from a scarcity in components.
AFP through Getty Pictures

The corporate mentioned in February that it expects 50% annual progress in gross sales, that means it expects about 1.4 million automobiles to be delivered this 12 months.

However on a convention name with analysts, Musk mentioned the chip scarcity would cease the corporate from rolling out any new fashions this 12 months.

Tesla has charged into 2022 with the wind at its again. Musk just lately unveiled its new gigafactory in Berlin, which can 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

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