$Tesla, Inc.(TSLA.US)$ is expected to report a record quarterly profit, largely evading the effects of a global chip shortage that has constricted the global auto industry.

The Silicon Valley electric-car maker produced more than 206,000 vehicles in the second quarter, more than doubling its year-earlier output. Global auto sales have cooled somewhat amid a shortfall of semiconductors. Many auto makers, including $Ford Motor Co(F.US)$ and $General Motors Co(GM.US)$, have been forced to idle assembly plants over supply constraints, squeezing vehicle inventories and pushing up prices.

Wall Street expects Tesla's vehicle-delivery growth to help drive second-quarter revenue to roughly $11.4 billion, up from $6 billion a year earlier, according to analysts surveyed by FactSet. Net income, when the company posts results after the bell Monday, is forecast to reach about $600 million, nearly six times the year-earlier profit.

"Our biggest challenge is supply chain, especially microcontroller chips. Never seen anything like it," Tesla Chief Executive Elon Musk said in June. "Fear of running out is causing every company to overorder -- like the toilet-paper shortage, but at epic scale."

The company said it navigated the shortage in the first quarter by pivoting to new chips and developing software for devices made by new suppliers.

Analysts expect Tesla to continue to be able to increase output, forecasting around 231,000 vehicle deliveries for the current quarter.

Tesla, in the quarter ended June 30, also has had to grapple with other issues. Its investment in bitcoin could hit the company's bottom line after the price of the cryptocurrency fell substantially in the second quarter. Tesla poured $1.5 billion into bitcoin earlier this year and briefly accepted the cryptocurrency as payment for its vehicles. It hit pause in May over concerns about the energy used to power bitcoin mining.

And container-shipping prices have soared as companies rushed to rebuild inventories. Tesla only has assembly factories in the U.S. and China and ships vehicles to other markets.

Other costs also are on the rise. The price of the raw materials used in a typical vehicle in the U.S. was roughly 79% higher, on average, in the second quarter than in the same period a year earlier, according to Bank of America Global Research.

Tesla shares have shed roughly a quarter of their value since reaching a record high in late January, underperforming the broader market as regulatory scrutiny over vehicle safety has intensified and electric-vehicle competition has heated up around the world.

Tesla's Model Y compact sport-utility vehicle was the most popular all-electric vehicle in the U.S. in the first half of the year, accounting for roughly a third of sales in the category, according to Cox Automotive. But car buyers have a growing array of plug-in options to choose from, thanks to the introduction of models such as Ford's Mustang Mach-E sport-utility vehicle and Volkswagen AG's ID.4, and Tesla's share of the market is slipping. Tesla doesn't break out vehicle deliveries by individual model or region.

Competition is intensifying. Last week, Mercedes-Benz AG said it would slash investments in combustion engines and plug-in hybrid technologies as it prepares to go all-electric by 2030.

To stay ahead, Tesla is building new factories and advancing a program to produce battery cells in-house. It is also working to refresh its higher-end models, which had suffered from flagging sales in recent years.

Luxury vehicles generally are more lucrative for auto makers. The company started delivering a souped-up version of its luxury sedan known as the Model S Plaid last month. A revamped Model X sport-utility vehicle also is in the works. As of last week, the company's website estimated that new orders would be available early next year.

Tesla said in April that it remained on track to deliver its first vehicles assembled in Germany and Texas by the end of the year. Mr. Musk also has expressed the hope it can put its first all-electric pickup trucks and, after a two-year delay, a semitrailer truck in customer hands.

The company, meanwhile, is adding to services it offers on a subscription model. Tesla recently introduced an option that allows drivers to access an upgraded version of its advanced driver-assistance system for $199 a month, compared with $10,000 to buy the suite of features upfront. The move lowers the barrier to entry for customers while positioning the company to take in a steadier flow of income.

Write to Rebecca Elliott at rebecca.elliott@wsj.com