The most difficult second quarter? No.
This is not easy for all automobile companies, including Tesla . In the second quarter: the epidemic and geopolitical conflicts have caused shortage of raw materials, energy costs have caused logistics costs to rise, and the production and sales of vehicles are also greatly affected by various force majeure.
Against this background, Tesla released its financial report data for the second quarter of 2022. The financial report itself and the subsequent conference call show us what the world's most valuable car companies have done in the past quarter and what they will do next.
In the second quarter of this year, Tesla's revenue amounted to US$16.9 billion, an increase of 42% year-on-year in 2021; operating profit reached US$2.5 billion, and the profit margin reached 14.6% in the leading automotive industry, of which the gross profit margin of automobile manufacturing was 27.9%. This is also the 12th quarter of Tesla's continuous profitability, which means it has not lost money for three consecutive years. In order to offset the impact of cash flow caused by the epidemic, Tesla sold 75% of its Bitcoin (but did not sell Dogecoin ), and together with operating profit and securities, it increased the free cash flow in Tesla to US$18.9 billion.
Although limited by factors such as supply chain and epidemic, Tesla's four production bases still set a record of the highest output per month in June. In three months, 242,169 Model 3/Y models were produced, and the Model S/X quarterly production also reached 16,411 units, and the brand's total quarterly production was 258,580 units.
is accurate to the factory. The Berlin factory in Germany can now produce 1,000 Model Ys with 2170 batteries a week, and soon the Austin factory in the United States will also reach this level. Musk, who had just shown his fat to the world, also showed his muscles to his competitors: "We will set a new record of production in the second half of this year, and at the end of this year, there will be about 40,000 vehicles per week." That is, the quarterly output doubled to 520,000 vehicles.
In addition to making cars, Tesla vehicles are also in a relatively ideal sales situation. Tesla delivered 254,695 vehicles in the second quarter of this year, and increased by 27% year-on-year. In the North American market, Tesla accounts for more than 3% of the total market share of local passenger cars, and Europe and China are also close to 2%. In June, the Shanghai factory delivered 78,906 new cars to prospective car owners at home and abroad.
Also growing with the same growth is the number of Tesla's super charging stations. As of the second quarter, Tesla has established 3971 super charging stations worldwide, with a total of 36165 charging stations, an increase of 2508 from the previous quarter. Although everyone speculates that Tesla's Q2 data is not very good, Tesla's performance is surprisingly impressive. In addition to the vehicle manufacturing business, the solar energy and energy storage businesses also performed relatively strongly.
Next step: 4680, Cybertruck, FSD...
In the conference call after the financial report, Musk also explained what Tesla will do next. Although it has been two years since the 2020 battery day and the Austin factory has also begun delivering the Model Y with 4680 batteries, Musk still believes that the 4680 battery is not that important this year, and Tesla's main products this year are still powered by 2170 batteries.
At present, Tesla is still conquering some of the last problems of mass production of 4680 batteries, including battery cell yield, electrode process and production equipment. By next year, Tesla will fully roll out the 4680 battery + CTC body combination and first use it for the best-selling Model Y.
generally believes that it is precisely for this battery with better performance and higher energy density that Tesla will delay the mass production process of Cybertruck. Musk expects the car to be mass-produced from mid-next year, with performance likely to be stronger than previously announced. In addition, some new models are also being planned and designed, and are likely to be the legendary "Model Q" within $25,000. There are also new progress in advanced assisted driving. In the next few months, Tesla will host AI Day 2022. In addition to the updated version of FSD, the always low-key HW4.0 assisted driving hardware is also expected to be announced.Musk said that the news announced on the same day will go further than everyone imagined.
Beta After so long, Musk still expressed confidence that the official version of FSD is expected to meet North American users within the year, and once the law allows it, FSD will soon enter the European and Chinese markets. But as features increase, Tesla may also increase the price of FSD software again.
But regarding the vehicle itself, Musk believes that the price will not keep rising. Once the inflation of slows down, the cost curve will return to a downward trend, and the price of Tesla vehicles may still fall. In his opinion, this change will occur at the end of the year, and all the parties can finally be overwhelmed by the sky.
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As the unquestioned leader of new energy vehicles, Tesla still has good development performance despite its difficulties. With the launch of new products and the increase in production capacity in the second half of the year, this momentum of success may continue.
