Tesla Post Highest Ever Quarterly Sales And Profit In Q2 2021

tesla model s plaid

Tesla Model 3 and Model Y were responsible for the major sales tally while Model X and Model S contributed to only 1,895 units

Tesla Inc has been posting impressive sales numbers in recent times and it has just performed the best quarterly sales tally ever. The American electric car manufacturer posted 2,01,304 unit sales across the globe in the second quarter of this calendar year. When compared to the same period last year, the brand endured a highly appreciable positive sales growth of 121 per cent.

Apparently, the sales numbers are majorly attributed to the entry-level Model 3 and Model Y as only 1,895 units amongst the total were from Model X and Model S. Due to the highest ever quarterly volumes, the company has achieved its largest-ever quarterly profit of USD 1.14 billion, roughly same as the total profit in the twelve months prior to the quarter.

It is also more than ten times what was earned in the April to June 2020 period. The revenue of Tesla also doubled to USD 11.9 billion according to the brand. In the successful quarter, the semiconductor shortage proved to be a major hurdle for production activities but the brand managed to pull it off by running close to the maximum capacity as much as possible.

Tesla Mode3

The demand for Tesla models took a big leap and broke records and Tesla says component supply will have a strong impact on the rate at which the cars are delivered along the course of this year. Elon Musk admitted in an earnings call that the chip shortage is quite serious as it led to temporary production halt at some of his manufacturing facilities.

However, Tesla rose through the difficulties by utilising alternative chips and rewriting new software. The company also faced supply issues with modules that control airbags and seatbelts and its performance in the second half will largely depend on the supply of necessary chips, as he added that the situation is hard to predict.

Recent reports indicate that Tesla could delay the production of the Cybertruck to next year due to semiconductor shortage and the brand appears to be preparing to debut in India in the near future.