Tesla posts record earnings amid automotive supply chain chaos

64 per cent increase in vehicle deliveries year-on-year provides backbone for record Tesla earnings

Tesla Model 3 Long Range - front

Tesla has posted its earnings for the third quarter of 2021, with the electric car company’s profits quadrupling to a record $1.6 billion (£1.15 billion) for the period. 

Tesla’s revenues were also record-setting, climbing to around $13.8 billion (almost £10 billion), although that figure fell slightly short of the $14 billion (£10.1 billion) expected by Wall Street analysts.

Tesla’s earnings can be put down to the company’s growth in sales, with the company building around 240,000 vehicles between July and September - a 64 per cent year on year increase. That’s despite the ongoing global semiconductor shortage, which has affected the production capacity of many big manufacturers, while earnings per car have also dropped with a greater proportion of sales being the lower-priced cars.

Tesla’s growing factory facilities now includes plants in Shanghai, California and Texas, with the firm’s new facility on the outskirts of Berlin due to start production later this year. Tesla’s facility in Shanghai is also matching the production figures of the company’s Californian plant for the Model 3 and Model Y, despite having only been open since December 2019.

The company’s sales mix is increasingly shifting to its smaller and more affordable models, the Model 3 and Model Y, from the larger and more expensive Model S and Model X.

The Model Y crossover recently went on sale in the UK, while the company has said that the delayed Roadster and Cybertruck models will now go into production in 2023.

Now click here for our review of the new Tesla Model Y… 

Recommended

Tesla Supercharger pilot scheme opens for other EVs in Holland
Tesla supercharger
Tesla

Tesla Supercharger pilot scheme opens for other EVs in Holland

Non-Tesla EVs can now recharge at 10 Superchargers in the Netherlands, as the company tests the waters for global roll-out
1 Nov 2021
'Tesla will have to work harder to stay at the top'
Tesla opinion
Tesla

'Tesla will have to work harder to stay at the top'

Steve Fowler points out how quickly the electric car industry is changing and what Tesla is doing to keep up
1 Nov 2021
Thatcham slams Tesla over “fundamentally dangerous” software roll-out
Tesla Model S
Tesla

Thatcham slams Tesla over “fundamentally dangerous” software roll-out

Tesla’s launch and rapid withdrawal of ‘full self-driving’ software update brings scathing response from leading UK safety body
25 Oct 2021
Humanoid 'Tesla Bot' to launch in 2022 says Elon Musk
Tesla Bot
Tesla

Humanoid 'Tesla Bot' to launch in 2022 says Elon Musk

US electric car-maker Tesla is to follow in Honda's tracks by branching out into robotics
20 Aug 2021

Most Popular

New seven-seat Dacia Jogger priced from £14,995
Dacia Jogger - Munich front
Dacia Jogger

New seven-seat Dacia Jogger priced from £14,995

Pre-orders open for the new Dacia Jogger ahead of 2022 deliveries, and low prices make it Britain’s cheapest seven-seater
1 Dec 2021
Next-gen Volkswagens to get smarter and more comfortable
Volkswagen tech
Volkswagen

Next-gen Volkswagens to get smarter and more comfortable

Volkswagen is working on a host of new technology, including fly-by-wire steering, a driver-facing interior camera and an intelligent chassis
30 Nov 2021
New BMW Concept XM previews sporty XM production car due in 2022
BMW Concept XM - front studio
BMW

New BMW Concept XM previews sporty XM production car due in 2022

The new BMW Concept XM hints at a sporty V8 plug-in hybrid production SUV
30 Nov 2021