Tesla posted document quarterly income Wednesday that beat Wall Avenue estimates, however stated it anticipated provide chain points to proceed via this yr.
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 yr earlier. Analysts had anticipated the electric-vehicle maker to report income of $16.57 billion, based on IBES information from Refinitiv.
The world’s most useful automaker final quarter handed over a record number of vehicles to customers regardless of provide chain headwinds.
“Our personal factories have been operating beneath capability for a number of quarters as provide chain grew to become the principle limiting issue, which is more likely to proceed via 2022,” Tesla stated in a press release.
Tesla stated on Wednesday that its new manufacturing unit in Austin, Texas, began manufacturing of its Mannequin Y late final yr, saying it plans to start out deliveries to prospects after remaining certification, with out elaborating on the timeframe.
It stated it goals to maximise output from its California manufacturing unit past 600,000 autos per yr.
Tesla has fared better than most automakers in managing supply chain issues by utilizing much less scarce chips and shortly re-writing software program.
Tesla faces challenges of scaling up manufacturing at two new factories this yr 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.
