SAN FRANCISCO — Tesla on Wednesday anticipated provide chain points to proceed by way of this 12 months, after posting file quarterly income that beat Wall Avenue estimates.
The inventory fell 2.7% in after-hours buying and selling.
Income rose to $17.72 billion within the fourth quarter, from $10.74 billion a 12 months earlier. Analysts had anticipated the electric-vehicle maker to report income of $16.57 billion, based on IBES knowledge from Refinitiv.
The world’s Most worthy automaker final quarter handed over a file variety of automobiles to clients regardless of provide chain headwinds.
“Our personal factories have been working under capability for a number of quarters as provide chain grew to become the primary limiting issue, which is prone to proceed by way of 2022,” Tesla stated in a press release.
Tesla stated on Wednesday that its new manufacturing facility in Austin began manufacturing of Mannequin Y late final 12 months, saying it plans to begin deliveries to clients after last certification, with out elaborating on the timeframe.
It stated it goals to maximise output from its California manufacturing facility past 600,000 automobiles per 12 months.
Tesla has fared higher than most automakers in managing provide chain points through the use of much less scarce chips and shortly re-writing software program.
Tesla faces challenges of scaling up manufacturing at two new factories this 12 months with know-how modifications in addition to battery and different provide chain constraints clouding the outlook.
It faces rising competitors from rivals who’re set to launch an array of electrical automobiles, from extra inexpensive fashions to electrical pickups.