Despite Chinese Regulatory Concerns and Chip Shortage, Tesla Sales and Stocks Continue Rising

According to the latest reports, Tesla has shared the sales of the vehicles it has recorded in the last quarter of 2021. The company has revealed that it has successfully sold over 200,000 vehicles in the second quarter of 2021. The company has been able to do it despite facing a shortage of chips, a PR disaster in China, and rising prices.

The company has revealed that despite the shortage of chips, it has managed to manufacture over 200,000 electric vehicles for the running and future quarters. According to Tesla, the sales and the construction of the vehicles it has achieved in the last quarter are more than double what it achieved in the same quarter of 2020. 

In the year 2020, it was the quarter in which the pandemic spread all over the world. During that time, the majority of the Companies and Industries in the United States were shut down. This ended up shutting down the manufacturing plants for Tesla cars. With the factories being shut down, it was expected that the company would not be able to carry out many sales.

However, the company ended up breaking all previous records it had achieved in the former years. The company almost delivered half a million electric vehicles in the year 2020.

The company has revealed that in the last quarter of 2021, the company has delivered 201,250 vehicles in total. As compared to the running year, the company had delivered only 91,000 vehicles a year back. On the other hand, Tesla had delivered 184,800 vehicles in the first quarter of 2021. 

Elon Musk, the CEO of Tesla has mentioned on several occasions that the shortage of chips is the biggest problem they are facing at present. It is causing a constant obstacle in the growth of the company in terms of increasing its sales. 

Furthermore, Tesla recently faced a huge problem in regards to its Tesla vehicles where the software in the cars caused the car to automatically activate cruise mode.

However, the company was able to recover from the problem as it carried out a recall of all affected Tesla vehicles in China. The stats show that there were a total of 200,000 vehicles that had the problem and Tesla did not require them to bring their vehicles to Tesla workshops. Instead, the company carried out the update on the Tesla cars without owners having to go through any hassle.

Despite all the problems the company faced in 2020, Tesla was the best performing company in the United States. The company managed to gain an increase of 743% in its share prices. Although the company has faced some downfall in its share prices in the first quarter of 2021, the company is experiencing a rise in its stock prices.