Shulou(Shulou.com)11/24 Report--

Recently, Tesla announced his financial results for the fourth quarter of 2022 and the whole year of 2022. "the fourth quarter of 2022 is a record-breaking quarter, and 2022 is also a record-setting year," Tesla said. Tesla CEO Elon Musk even mentioned on the conference call that 2022 is the best year ever for Tesla at all levels.

Tuyuan Pixabay's full-year revenue of $81.5 billion, another record high, Tesla's income and net profit hit record highs: revenue in the fourth quarter of 2022 was $24.3 billion, up 37% from $17.7 billion in Q4 in fiscal year 2021, and net profit in the fourth quarter was $3.7 billion, with an operating profit margin of 16%; full-year revenue of $81.5 billion, up 51% from $53.8 billion in fiscal year 2021; and net profit of $12.6 billion, more than double that of the same period last year.

In terms of gross profit margin, it has shown continuous growth in recent years. The fiscal year 2022 was 25.6%, which was the highest gross profit margin of Tesla Company in the past five years. In fiscal year 2018-2021, the company's gross profit margin was 18.8%, 16.6%, 21% and 25.3%, respectively. Tesla's share price has risen 46 per cent in the past month, thanks to the latest results.

Tesla, which mainly generates revenue from the automotive business, contributed $71.5 billion in revenue in fiscal 2022, up 51 per cent from $47.2 billion in fiscal 2021. Revenue from the auto business in the current fiscal year is 3.9 times that of $18.5 billion in 2018.

In terms of car delivery volume, Tesla delivered 405000 vehicles in the fourth quarter of 2022 and 1.31 million vehicles for the whole year, both of which set a record. Tesla produced 1.37 million cars in the past fiscal year, up 47 per cent from 930000 in fiscal 2021.

Tesla's automobile output is mainly distributed in Model3 / Y and Model S / X. Of this total, Model 3 / Y produced 1.298 million vehicles in fiscal year 2022, up 43% from 906000 in fiscal year 2021. The Model3 is a four-door midsize sedan, positioned as a basic price product that is attractive to the mass market, and the Model Y is a compact sports utility vehicle that can accommodate up to seven adults.

Model S / X produced 71000 vehicles in fiscal year 2022, up 192% from 24000 vehicles in fiscal year 2021. Compared with the Model 3 / Y models, the Model S / X has seen a more significant increase in production this fiscal year. The Model S is a full-size four-door sedan and the Model X is a medium-sized SUV that can accommodate up to seven adults. The Model S and Model X have the company's highest performance features and longest mileage in cars and SUV, respectively.

Invest heavily in research and development, Shanghai super factory take the lead to invest in research and development, and constantly improve the technical level is an important magic weapon for Tesla to achieve good market performance. In terms of R & D investment, Tesla spent US $3.075 billion (20.9 billion yuan) on R & D in 2022, an increase of 18.5% over the previous year. That's a 13-fold increase from $232 million (1.58 billion yuan) in 2013 a decade ago.

On the technical side, the speed of FSD updates at Tesla increased significantly in 2022, with the number of vehicles participating in the FSD beta system growing from 2000 in 2021 to 160000 in 2022, an 80-fold increase in one year, with a total mileage of 100 million miles (160 million km) off the highway, officially on the delivery fast track. Tesla FSD brought in $324 million in revenue in the fourth quarter, which means that Tesla's reliability, safety and convenience of autopilot technology are winning the trust of users around the world, accelerating the arrival of the era of autopilot.

In terms of smart cars, the number of software updates related to Tesla's holiday has reached an all-time high in the past year. Recently, Tesla has integrated Apple Music into the player. After starting the dog mode or Sentinel mode, the car owner can add the in-car camera real-time view function to the mobile app.

On the latest Model S and Model X, car owners can also use powerful built-in game computers to play all the games in the Steam game library, or they can use wireless Bluetooth or wired USB game consoles to continue to start games that are paused on other devices.

Behind the brilliant achievements, Tesla Shanghai Super Factory plays a leading role. Tesla delivered 1.31 million vehicles worldwide in 2022, up 40 per cent from 2021, according to official figures. The Shanghai super factory delivered 710000 vehicles for the whole year, more than half of Tesla's global delivery. Among them, the delivery volume of Model Y alone has exceeded 450000.

Tesla said in the financial report that since reaching the milestone of 1 million vehicles off the line in August 2022, its Shanghai super factory has continued to "operate at near full capacity successfully within a few months" and is still Tesla's main export center. supply vehicles to most markets outside North America.

Although the price reduction is expected to continue to develop rapidly and perform well in the future, Tesla faces many challengers from Chinese car companies in the field of electric vehicles, such as BYD, Nezha, Xilai, Xiaopeng and ideal. Speaking on the company's earnings call on the competitive landscape of electric vehicles, Musk said that Tesla respects Chinese car companies very much, which are extremely competitive in the world.

Tesla's biggest competitor in China is BYD. According to the Automotive Market Research Branch of the China Automobile Circulation Association, Tesla's Model Y ranks second in retail sales in China, behind BYD in retail sales, while Tesla's Model 3 ranks fifth in retail sales in China in 2022, lagging behind several models by companies such as BYD.

At the beginning of January 2023, BYD announced its annual sales in 2022. Its cumulative sales of new energy vehicles in 2022 reached 1.8635 million, a year-on-year increase of 208.64%. The cumulative sales of fuel vehicles were 5049, totaling 1.8685 million. Also because of the impact of BYD, Tesla failed to win the top spot in global sales of new energy vehicles for three consecutive years.

In the face of macroeconomic pressure and increasingly fierce competition from other electric vehicle manufacturers, Tesla recently cut prices around the world to promote sales. According to Tesla's official website, the price of Tesla's domestic model has been greatly reduced, starting at 229900 yuan for Model 3 and 259900 yuan for Model Y. Tesla also announced that the prices of Model S and Model X start at 789900 yuan and 879900 yuan respectively. The price cut comes just over two months after the price cut at the end of October last year.

This has to some extent spurred demand for purchases. Mr Musk said Tesla had "received the strongest orders in history" since January, with nearly twice as many orders as output in the same period. Tesla has been implementing a price reduction strategy for many years. The average price of Tesla electric car has been halved between 2017 and 2022, but its operating profit margin continues to rise. this is mainly due to the introduction of lower-cost models, the construction of more efficient local chemical plants, lower vehicle costs and operating leverage.

Tesla's behavior of adjusting prices because of market demand has both advantages and disadvantages. The advantage lies in gaining more new customers, while the disadvantage lies in the old owners of Tesla. They are dissatisfied with Tesla's behavior, which affects the company's customer satisfaction to a certain extent.

"Price changes have a significant impact on ordinary consumers, and affordability is very important-Tesla's goal is always to make it affordable to as many people as possible," Musk stressed. " This means that Tesla is expected to cut prices again and step into a broader demand market.

For the 2023 car market, Mr Musk said: "although the overall car market is likely to contract, consumer demand for Tesla will remain good." He pointed out that the market demand for Tesla electric cars is strong, especially after price adjustment, with orders reaching an all-time high in January 2023, almost twice the factory's capacity.

Tesla plans to deliver 1.8 million cars by 2023. The financial report pointed out that with the increase in production at the company's plants in Berlin, Germany and Austin, Texas, USA, Tesla's total production capacity has exceeded 450000 vehicles per quarter. Tesla said that under the influence of unfavorable factors such as the uncertainty of the macroeconomic environment, the company will strive to accelerate cost reduction, improve production efficiency, expand production capacity, pay attention to cost-effectiveness, and improve function and reliability.

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