During the just-passed National Day holiday, Tesla officially released global delivery data for the third quarter of 2022, delivering a total of 343,800 new cars, a year-on-year increase of 42.48% and a month-on-month increase of 34.9%; a total of 365,900 new cars were produced, a year-on-year increase of 53.87%. So far, Tesla's global cumulative delivery volume has exceeded 3 million vehicles. In terms of specific models, Model 3 and Model Y delivered a total of about 325,200 new cars and produced about 346,000 new cars in the third quarter. Model S and Model Y delivered a total of about 18,700 new cars in the third quarter, and a total of about 19,900 new cars were produced.
However, the above achievements achieved by this American new energy vehicle company did not meet the analyst's previous goal of delivering a total of 357,900 new cars in the third quarter. In other words, on the production and sales side, this time Tesla was "better than expected".
Affected by this, Tesla's stock price plunged sharply on October 3rd local time in the United States. As of the closing, the stock price of each share closed at $242.40, a drop of 8.61%, and the total market value shrank to $759.6 billion, evaporating about $71.5 billion.
What makes it even worse is that the recent general environment of the capital market can only be described as a depression. As an absolute "hot commodity", new energy vehicle stocks have collectively "avacancies".
As of the close of trading on October 7, local time in the United States, Tesla's stock price decline continued, with the stock price of each share closing at US$223.07, a drop of 6.32%, and the total market value fell to US$699 billion.
Of course, if you turn your attention back to Tesla's third-quarter production and sales data that was "less than expected", it is obvious that its output is 22,000 more than the delivery volume. According to past experience, supply shortage has always been the norm for this American new energy vehicle company, but the current gap is indeed confusing.
In this regard, Tesla said, "Tesla's delivery volume has always increased sharply at the end of each quarter due to mass production methods for different regional markets. With the continuous increase in production, the challenge of ensuring transportation capacity at reasonable costs during peak logistics and transportation periods is getting greater and greater."
In the third quarter, Tesla began to transition to "more balanced mass production for different regional markets in weekly units", which led to an increase in the number of new cars that were still in the transportation process at the end of this quarter. These new cars on the way have been ordered and will be delivered to customers upon arrival.
In other words, the output is 22,000 more than the delivery volume, but it is simply due to transportation problems and has nothing to do with other factors. So, from this, I can't help but ask whether Tesla's demand at the terminal, especially the increasingly inclined Chinese new energy market, has declined?
After all, just two days before the National Day holiday, relevant news suddenly broke out that Tesla will make a significant official reduction in China, with Model Y dropping up to 40,000 yuan.
Although as a melon-eating crowd, the official rumor was soon refuted, during the National Day holiday, Tesla also announced the latest car purchase policies for Model 3 and Model Y. Car owners who have issued and completed delivery within 1 year will enjoy a 7,000 yuan insurance subsidy if they choose Tesla cooperative insurance institutions to purchase the corresponding insurance; if they complete the order between October 1 and October 7 (inclusive), they can enjoy a 0-down payment financing leasing plan and a preferential rate loan plan.
And, just last month, according to the information disclosure platform of Shanghai Enterprises and Institutions, the second phase of Tesla's Shanghai Super Factory (Phase I) production line optimization project was completed and debugged on September 1, and the expected acceptance period is from September 1 to November 30.
It is understood that the total investment of the project is as high as RMB 1.2 billion, of which 85 million yuan of environmental protection investment, accounting for 7.08%. The actual construction time was December 21 last year, and the expected completion time was April this year, but it was finally postponed to September before it was officially completed.
This production line optimization project is Tesla's expansion in its existing factory, mainly expanding production capacity by increasing the pace of production.The environmental impact assessment report released in November last year showed that the production line optimization project mainly includes the expansion of stamping workshops, body workshops, painting workshops, assembly workshops and logistics operation centers.
According to Tesla's estimate, 4,000 employees will be added after the production line optimization project is completed, and the number of employees in the entire factory will reach 19,000. This production line optimization project further expands the production capacity scale of Tesla's factory in Shanghai.
With the expansion of production, it is not difficult to find that after opening Tesla's official website in China, the pick-up cycle of all its domestic models has been greatly shortened. For example, Model 3 rear-wheel drive version is 4-8 weeks, Model 3 high-performance version is 4-8 weeks, Model Y rear-wheel drive version is 1-4 weeks, Model Y long-range version is 4-8 weeks, and Model Y high-performance version is 4-8 weeks.
To sum up, on the one hand, the use of the insurance and financial policies to open up disguised concessions, and on the other hand, the production capacity is becoming more abundant, the pick-up cycle has been greatly shortened, and I will return to the previous question. My answer is more focused on: Tesla's terminal demand may not have declined, but with the improvement of overall efficiency, it is obvious that this American new energy vehicle company is trying its best to speed up.
Little did not know that just yesterday, according to Cui Dongshu, Secretary-General of the China Passenger Car Association, in an exclusive interview with the media, Tesla delivered more than 83,000 vehicles in China in September, setting a new record for monthly delivery.
But even so, in order to achieve the annual production and sales of 1.5 million vehicles, the American new energy vehicle company is still under great pressure in the fourth quarter, and the situation of "being inferior to expectations" is likely to happen again.
