According to JATO Dynamics data for 28 European markets, the European automotive market continued to deteriorate in December 2021. Meanwhile, Tesla sold a total of 35,239 vehicles (27,358 Model 3) in Europe during December, an increase of 11% when compared to December 2020 and +24% higher than 2020. This result brings Tesla a market share of 3.71%, up from 2.23% during the same period in 2020.
Tesla registered 167,969 vehicles during 2021, an increase of 70.9% from 2020 and 51% up from 2019. During the year, Tesla sold 26,175 Tesla Model Y, 134 Tesla Model S and 230 Tesla Model X in the European Market.
Felipe Munoz, Global Analyst at JATO Dynamics commented: “Tesla has weathered the current crisis in Europe’s automotive industry better than any other OEM.” The Model 3 led the model rankings while the Model Y also secured a place in the top 40 in December. The success of these two models alone has allowed Tesla to outsell established brands including Kia (12 models available), Citroen (10), and Fiat (7).
Last week, during Tesla’s Earnings setting new records, the company said:
“We aim to increase our production as quickly as we can, not only through ramping production at new factories in Austin and Berlin, but also by maximizing output from our established factories in Fremont and Shanghai.”
• Earnings: $2.54 per share, adjusted, vs. $2.33 per share as expected by analysts.
• Revenue: $17.71 billion, vs. $17.1 billion as expected by analysts.
• Automotive Gross Margin: 30.6%
Revenue rose 65% year over year in the quarter, while net income, at $2.32 billion, was up some 760%, according to Tesla’s statement. The company says they have successfully increased the number of FSD Beta vehicles from a couple of thousand in Q3 to nearly 60,000 vehicles in the US today.
“Our own factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through 2022,” the company said.
The Ratings Agency, Moody’s, upgraded Tesla Inc’s debt rating by two notches to Ba1 from Ba3 on Monday maintaining its expectations that the company will keep its position as the leading battery EV manufacturer.
Moody’s affirmed in a note that Tesla’s outlook remains positive and the company will continue to increase its scale rapidly and improve its profitability notably. A more competitive offering of battery electric vehicles by other automakers could start to exert some pressure on the company’s margins in 2023. – Moody’s added.
Earlier this month, Tesla announced that deliveried 308,600 vehicles in Q4, setting a new record during the last Quarter. In 2021, Tesla delivered a total of 936,172 vehicles in 2021, crushing all the expectations.
During Q4 2020, the company delivered about 181,000 vehicles and Wall Street was looking for about 176,000 vehicles to be delivered at the time of the release. The result was about a 3% beat versus expectations. This quarter, Wall Street expectations were on 275,000 units, which means Tesla beat by more than 12%.
Moody’s expect that Tesla will deliver nearly 1.4 million vehicles in 2022, up from about 936,000 in 2021.