Cover News Reporter Ouyang Hongyu
html On July 21, Tesla announced its second quarter financial report. According to the financial report, Tesla's operating income in the second quarter was US$16.934 billion, a year-on-year increase of 42%; according to the US General Accounting Standards (GAAP), the net profit attributable to common shareholders was US$2.259 billion, a year-on-year increase of 98%. However, the total car delivery volume declined month-on-month to only 254,700 vehicles.What information does this data reveal? Compared with national brands such as BYD and Geely, as well as auto industry giants such as Volkswagen and Toyota, what is the key point that determines Tesla's success or failure? Zhang Xiang, director of the New Energy Vehicle Technology Research Institute of Jiangxi New Energy Technology Vocational College, believes that Tesla's continuous attempts to innovate technology may delay the opportunity period of expanding production capacity in the commercial market. In the long run, its sales and delivery volume will be surpassed by other car companies.
Tesla disclosed in its financial report that the company's total revenue and net profit in Q2 2022 are mainly due to three factors: increasing automobile delivery volume, rising average sales price and other business growth. But in Zhang Xiang's view, Tesla's growth data has not kept up with the pace of industry development compared with the growth rate of China's new energy vehicle market.
According to statistics from the China Association of Automobile Manufacturers, China's new energy vehicle market completed a total of 2.6 million retail sales in the first half of 2022, an increase of 120% year-on-year. Tesla's global delivery volume was 565,000 vehicles, with a growth rate of 46.3%; in contrast, BYD's car sales in the first half of the year were close to 640,000.
Today, Tesla has four pure electric models for sale, but traditional car companies such as BYD, Volkswagen, and Geely have multiple brand series and multiple models for new energy vehicles alone. Based on this judgment, Zhang Xiang made a judgment that Tesla used a small number of popular models to market, ensuring high profit margins, but the disadvantage is that it has no advantage in sales. "Just like Apple, which competes with a small number of models, is soon surpassed by Huawei and Samsung. If Tesla does not step up its development of new models, its sales will not only be surpassed by BYD, but even new car-making forces such as NIO will come from behind."
A few days ago, a research report by CITIC Securities "Looking at the development trend of smart electric vehicles from the dismantling of Model 3" attracted attention. In the 94-page report, it detailed Tesla's technological innovations in integrated body, 4680 batteries, thermal management, motor and electronic control. However, Zhang Xiang believes that emphasizing technological innovation is a good thing, but the problems caused by innovation such as low yield and complex debugging process are difficult to overcome. "The subsidies for new energy vehicles may completely decline next year. In addition, cars have a long way to go to achieve their ultimate goal of pure electric. If the technological innovation time is too long, it will delay opportunities in the commercial market."
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