What chip shortage? Tesla posts record fourth quarter and full year sales

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Tesla bucked the industry-wide trend of reduced sales due to the shortage of computer chips and other parts, posting record sales in the fourth quarter, up 71% from a year earlier.

The strong fourth quarter of 308,600 vehicles gave Tesla full-year sales of 936,000, up 87% from the 2020 total, and above the 900,000 mark that had been the target set by many analysts.

Cox Automotive is forecasting that overall US fourth quarter sales will be down 24% due to the shortage of computer chips that caused plants to temporarily shut, limited the inventory of vehicles in dealerships and drove up car prices to record levels. For example, the Ford Mustang Mach-E had US sales of nearly 25,000 vehicles through November in its first year on the market. Ford recently announced plans to triple production to meet demand. There are also new EV-only automakers now selling vehicles, including Lucid and Rivian, which both recently won MotorTrend's car and truck of the year honors.

Source: News Formal (newsformal.com)

 

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