Tesla only earned 2.6 million in Spain after increasing its sales by 55% in 2022

A Tesla Model 3.

Tesla Spain registered a turnover of 240.5 million euros in 2022, which represents an increase of 55% compared to the previous year, and obtained a net profit of 2.64 million euros, 52.6% more, according to the accounts deposited in the Mercantile Registry. Tesla Spain is a commercial subsidiary of the company located in the Netherlands (Tesla Motors Netherlands BV), with which it maintains a limited risk contract, based on which the company is guaranteed a return for the percentage of its sales in the Spanish market. The Dutch subsidiary depends, in turn, on the parent company based in Delaware (United States).

The electric vehicle manufacturer delivered 4,607 units in 2022 in Spain, representing an increase of 44.5% in the year-on-year comparison. This increase was due to the expansion of the market share of electric cars and the recovery of the Spanish market, as well as the maintenance of public aid for non-polluting vehicles (Moves plans). Of the total deliveries, 2,736 units corresponded to Model 3, 4% less, representing 59% of total sales, while Model Y deliveries multiplied almost six times (+464%), reaching 1,828 units. and a fee of 40%. In contrast, the Model S and Model X only accounted for 1% of sales.

In its management report, Elon Musk’s company advances that in the first quarter of 2023 it has delivered 2,048 vehicles, 45.35% more than in the same period of the previous year, for which it expects a significant increase in deliveries. in the year as a whole, and an increase in net income in line with the growth in sales volume.

150 employees

Billing from the sale of vehicles increased by 51% last year, with 229.2 million euros, while income from services almost quadrupled (244.6%), up to 11.2 million euros. In 2022, he paid 894,087 as corporate tax, compared to 595,590 euros the previous year. Tesla’s workforce in Spain grew by 23% in 2022, with 150 employees: 51 in sales and 99 in services. The firm allocated 9.06 million to personnel expenses, 31.49% more than in 2021.

As of December 31, 2022, Tesla had six centers and 70 supercharger stations in Spain. In addition, the company plans to open another service center in Zaragoza in November 2023. The report makes no reference to the planned gigafactory of vehicles that Musk intends to build in Europe with an investment of 4,500 million euros, for which it had leaked which could be located in Valencia, although it seems that another country will finally be chosen. Portugal, France and Italy are the ones that sound the most.

Tesla Spain has indicated in the accounts report that the war in Ukraine has caused an increase in the price of some raw materials and the cost of energy. Even so, the company has assured that the impact of the conflict on its figures will depend on the development of “future events that cannot be reliably predicted.”

On a global scale, the automobile group reduced its net profit by 6.5% in the first half of 2023, standing at 5,216 million dollars. From January to June, revenues amounted to 48,256 million, 35.2% more than in 2022. In the second quarter, on the other hand, revenues fell to 21,268 million, due to the price reduction of its main models, although in return he broke sales records.

Follow all the information on Economy and Business on Facebook and Twitteror in our weekly newsletter

Five Days agenda

The most important economic appointments of the day, with the keys and the context to understand their scope.

RECEIPT IN TU CORREO
#Tesla #earned #million #Spain #increasing #sales