Tesla ‘s sales are forecast to grow more than 50% in 2022 compared to last year despite problems with microchip shortages and the global supply chain.
The electric car maker reported record profits of more than €5bn in 2021, with that number expected to rise later this year. The company’s sales soared 71% to €53.8 billion in 2021 as it delivered more than 936,000 cars to customers around the world.
record sales figures
However, the firm warned that growth would slow as global supply chain problems affecting automakers in general, and electric carmakers in particular, continue to limit their manufacturing capacity. However, Musk says that 2021 was ” a breakout year for Tesla and for electric vehicles in general […] While we battled supply chain challenges throughout the year, we managed to increase our sales volumes by almost 90% last year,” he said through his social networks.
The company says its supply chain was the main limiting factor to growth, but that it is likely to continue through 2022. It also said it expected growth comfortably above 50% through this year. Carmakers around the world are grappling with microchip shortages, among other production and global supply chain problems, though Tesla is seen to be doing better than most of its competition.
Tesla has been able to take advantage of the shortage
Elon Musk’s firm uses chips that are less scarce and quickly rewrites software, while its direct competitors choose to reduce vehicle production. Musk’s company, which started in California, now has factories in China and Texas, and another under construction in Berlin. The plants are expected to help Tesla dramatically expand production, even as the company faces new competition from established automakers (such as Toyota or Ford) that have already begun to turn their attention to electric vehicles.
Tesla is challenged to open two factories this year amid shortages of chips and other parts, as well as new batteries and technologies to be introduced. But Musk is convinced that the construction of new factories in the near future will mitigate all these problems and will allow car production to continue to grow year after year.
Looking ahead, Musk says he expects fully autonomous cars to become Tesla’s biggest source of revenue. Cars that become autonomous via a software update could be the company’s greatest historical asset value.
