The world’s most valuable carmaker will focus on scaling up production in 2022 to keep an eye on what the CEO Elon Musk called a breakout year for both Tesla and Electric Car Generally speaking. Relying only on two means – Model 3 and Y – for 97% of deliveries have helped alleviate challenges posed by semiconductor shortages driving down the car industry’s output.
“Both last year and this year, if we introduce new car, our total vehicle production will fall,” Musk said late Wednesday after Tesla reported record revenue and earnings per share, both of which beat analyst estimates. Roll out CybertruckSemi or Roadster in 2022 “wouldn’t make any sense because we’re still limited on parts.”
While having to buy chips for only a handful of models is an advantage for Tesla, delaying new product launches carries some risks. Rivian production is ramping up R1T . electric pickupand lead the truck segment Ford coming to market with plug-in version of the best-selling F-150 in the coming months. Synthetic engine production has started GMC Hummer EVwith Cadillac Lyriq and Chevy Silverado EV to follow.
Tesla stock fell as much as 2% to $919 before regular trading begins on Thursday in New York. Shares rallied 50% last year after soaring 743% in 2020.
“TSLA stock tends to perform best when something new comes along,” said Jeffrey Osborne, an analyst at Cowen & Co. with a rating equivalent to the stock, said in a note.
Lacking short-term additions to Tesla’s showrooms to promote, Musk has spent most of Tesla’s earnings discussing the potential of self-driving technology and a humanoid robot the company is said to be developing.
While Tesla has for years charged thousands of dollars for “Full Self-Driving” capabilities that it says will exist under that name at some point in the future, these features are still in the works. testing phase and people must continue to care about the steering wheel.
Musk said robot He first teased five months ago as possibly the most important product the automaker is developing, and potentially more important than their vehicle business.
That would be a tall order, at least from an income perspective. Auto sales skyrocketed to nearly $16 billion in the fourth quarter and accounted for 90% of total sales. Earnings excluding some items rose to $2.54 per share, beating the average analyst estimate of $2.36 per share.
Tesla delivered more than 936,000 vehicles worldwide in 2021, up 87% year over year and exceeding the 50% average annual expansion projected for several years. While Musk expects to comfortably exceed that growth again in 2022, the company warned its factories are likely to continue operating below capacity this year because of supply chain issues. .
“Comment on risk factors is carrying different weight in the current environment,” said Gene Munster, co-founder of investment firm Loup Ventures. “Whenever there are unknowns about the future, it can make investors a little nervous.”
After giving Tesla’s earnings call last quarter, Musk returned on Wednesday to explain his decision to further delay the models he first showed off prototypes to from 2017.
Tesla will be doing engineering and tooling work this year to prepare the Cybertruck, Semi and Roadster for production, “hopefully next year,” Musk said. The company isn’t currently making a $25,000 car, which he said in 2020, Tesla will try to produce in about three years.
“We have enough on our plate right now, too much on our plate,” Musk said. “The most important thing is when the car will drive itself.”
Tesla’s “Full Self-Driving” capabilities will become the company’s most important source of profit over time, he said. The company has increase in the price of the option And give a registry alternative.
With last year’s net income of $5.5 billion on the basis of generally accepted accounting principles, Tesla hit a major milestone its CEO introduced at the start of the call.
“Our cumulative returns since the company’s founding have been positive, which I think makes us a real company at this point,” Musk said.