The carmaker Tesla had a record net profit last year and earned $ 5.5 billion, or about 120 billion crowns. This is a year-on-year increase of 665 percent. The American manufacturer of electric cars stated this on Wednesday after the end of stock trading. Elon Musk boss expects sales to grow by more than 50 percent this year despite supply chain problems.
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Musk called last year a “breakthrough for Tesla and electric cars in general,” saying there was no doubt about the profitability of electric cars. He added, however, that the company will not introduce any new models this year, because it has problems with deliveries for older types of cars as well. According to him, the start of production of the announced Cybertruck electropickup could be postponed until 2023.
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Tesla’s sales in 2021 rose 71 percent to $ 53.8 billion. The company has previously stated that it delivered 936,172 electric cars to the market last year, ie 87 percent more year-on-year.
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The results for the fourth quarter alone exceeded analysts’ expectations. Net income rose 760 percent year on year to $ 2.3 billion. Sales rose 65 percent to $ 17.7 billion in the three months to the end of December.
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Nevertheless, Tesla’s shares weakened slightly after the stock exchange closed. They have lost almost 22 percent since the beginning of this year. According to analysts, the decline in the carmaker’s shares goes hand in hand with the fall in the Nasdaq technology stock index, which has been losing more than 13 percent since the beginning of this year.
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The uncertainty surrounding economic growth, coupled with the prospect of higher interest rates in the United States, according to the financial server MarketWatch, is forcing investors to re-price technology stocks and strong stock stocks.
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What is Tesla?
– Tesla is an American carmaker that mainly produces electric cars. It is also an energy company.
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– Headquartered in Palo Alto, California.
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– Other Tesla products include Powerwall home energy storage, Powerpack commercial storage and solar roof tiles.
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– The company was founded by Martin Eberhard and Marc Tarpenning in 2003. It was named after electrical engineer and physicist Nikola Tesla.
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