Tesla reports a record year, is already planning the next one

Tesla is thriving. The electric car manufacturer turned over US$ 24.3 billion in the fourth quarter, an increase of 37 percent year-on-year. The company has never done so much in one quarter. Tesla made $20.8 billion (+33%) of its sales from its electric car division, half a billion (+49%) from the sale of tax credits (Zero Emission Vehicle credits), and the remaining three billion from other ventures, particularly batteries and solar cells.

Operating profit rose by half to $3.9 billion. Net income even increased by 59 percent to $3.7 billion. Operating cash flow fell by 29 percent to $3.3 billion. But that was still enough to bank $1.1 billion, bringing it to $22.2 billion at the turn of the year. Tesla shares rose 5.5 percent in after-hours trading after the financial results were announced.

Price reduction due to full parking spaces

In the reported quarter, Tesla manufactured almost 440,000 electric vehicles (+47 percent), including 419,000 Model 3 and Y and not quite 21,000 Model S and X. Of these, the company was able to hand over 405,000 (+40%) to end customers (388,000 and 17,000 of the two, respectively). model pairs). So the supply of unsold new vehicles has increased significantly, which explains why Tesla recently reduced prices in Europe and North America.

Also, in December, after many delays, Tesla delivered its first electric semi-truck. The energy division installed solar cells with a total nominal value of 100 megawatts (+18%) and electricity storage for up to 2.5 gigawatt hours (+152%) in the last quarter. In addition, almost 400 charging stations with a total of around 3,500 plugs for Tesla vehicles have been added.

“We know that there are unanswered questions about the short-term effects of the economic environment and especially the rising interest rates,” writes Tesla’s management to its own shareholders and wants to reassure them: Tesla is used to challenges. The company will tighten austerity measures while increasing the production rate, the promise said. No other automaker is better prepared than Tesla.

Annual figures 2022 and outlook 2023

For the year as a whole, sales were $81.5 billion (+51%). Of that, $69.7 billion came from the vehicle business (+51%), $1.8 billion from sales of tax credits (+21%) and $10 billion (+52%) from the energy business. Annual operating profit more than doubled to $13.7 billion. The annual net profit has even increased by 128 percent to 12.6 billion dollars. Operating cash flow reached $14.7 billion, up 28 percent.

In 2022, Tesla built more than a million cars for the first time, specifically 1.37 million (+47%). Of these, 1.31 million went to end customers (+40%). The amount of newly installed solar power capacity has remained virtually unchanged at 348 megawatts, but the power storage business has grown by almost two-thirds to 6.5 gigawatt hours. The number of Tesla charging stations (now 4,678) and their charging plugs (42,419) has grown by a good third.

In the new year, Tesla wants to increase vehicle production by more than half and is aiming for 1.8 million vehicles. The pickup should also go into series production. The management is promising details of a new generation of electric vehicles for March 1st.

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