ANALYZING TESLA'S AMAZING Q4 DELIVERY REPORT

EV Channels Review

Rob Maurer delivers a comprehensive analysis of Tesla's Q4 2021 delivery and production report, highlighting a significant beat against Wall Street expectations. The report exceeded Maurer's own estimates, with 308,600 vehicles delivered, surpassing consensus by 16%. Production figures also exceeded forecasts by approximately 3.8%. The majority of deliveries were Model 3 and Model Y, totaling 292,000 units, with Model S and X accounting for 13,000. Maurer emphasizes the impressive year-end production of 930,000 vehicles, a substantial increase from previous estimates. He notes the easing of supply chain issues as a key factor in the strong performance, particularly from the Fremont factory. The analysis also touches on the rapid ramp-up of the Shanghai factory, which has achieved seven years' worth of Fremont's production in just two years. Maurer anticipates strong operating margins for Q4 due to increased deliveries with a similar fixed cost base. The report concludes with a positive outlook for 2022, projecting significant production potential from existing and new factories.