Every reporter: Zhang Lingxiao Every editor: He Xiaotao, Lan Suying
On January 25, local time, Tesla (TSLA, stock price US$314.443, market value 452.567 billion US dollars) announced the fourth quarter of 2022 and 2022 full-year results. The company's revenue and net profit in the fourth quarter of 2022 both hit a new single-quarter high in its history.
Tesla's performance boosted investor confidence. As of press time, Tesla rose 9.29% to US$157.85.
In addition, according to Global Network citing Reuters report, when asked about the competition faced by Tesla, Musk responded that he respects Chinese car companies, saying that China is the most competitive market in the world. Musk said, "They work the hardest and the smartest, so we guess that some companies from China are most likely to be second only to Tesla." Reuters reported that Musk did not name any Chinese manufacturers. Reuters also concluded that Musk’s words meant that in the field of electric vehicles, Chinese companies are most likely to become the world’s second largest company.
reported that Musk also said, "Our team is succeeding in China. I think we are actually able to attract the best talents in China. So this is likely to continue."
It is expected to deliver 1.8 million vehicles this year
According to Tesla's latest performance report, total revenue in the fourth quarter of 2022 was US$24.318 billion, an increase of 37% compared with US$17.719 billion in the same period last year; net profit attributable to ordinary shareholders was US$3.687 billion, an increase of 59% year-on-year. Both performance figures hit record highs again.
However, Tesla’s operating cash flow in the fourth quarter of 2022 was US$3.278 billion, a year-on-year decrease of 29% and a month-on-month decrease of 36%. Automotive gross profit margin was 25.9%, the lowest level in the past five quarters.
In terms of delivery, in the fourth quarter of 2022, Tesla produced more than 439,700 vehicles globally and delivered more than 405,300 vehicles, setting a new high, but it was still slightly lower than the 429,000 deliveries previously expected by Wall Street .
For the whole year of 2022, Tesla achieved revenue of US$81.462 billion, a year-on-year increase of 51%; net profit was US$12.556 billion (approximately RMB 85 billion), a year-on-year increase of 128%. During this period, Tesla produced a total of 1.3696 million vehicles globally and delivered 1.3139 million vehicles.
From the perspective of production capacity, Tesla's annual production capacity has reached 100,000 ModelS/ModelX and 1.8 million ModelY/Model3 annually. Specifically, the annual production capacity of the Shanghai factory has exceeded 750,000 Model 3/Model Y; its first factory in Fremont, California, has an annual production capacity of 100,000 Model S/Model
Tesla did not give new performance guidance this time, but it reiterated in the report that it will continue to follow the 50% compound annual growth rate goal proposed at the beginning of 2021 and increase production as soon as possible. It is expected that car delivery will reach 1.8 million vehicles in 2023.
During Tesla's earnings call, an analyst asked company CEO Elon Musk why Tesla conservatively gave an annual production capacity target of 1.8 million vehicles as Tesla's production capacity continues to increase.
Musk said that he only gave a production capacity target of 1.8 million vehicles because Tesla's production may be affected by factors such as the epidemic and natural disasters. If there are no large-scale supply chain interruptions and other problems in 2023, Tesla's production may reach 2 million vehicles.
Tesla Model Y Picture source: Daily Economic News Photo by Zheng Derui
Cybertruck "Delayed" again
From the end of last year to the beginning of this year, Tesla implemented a price reduction strategy globally, with major price cuts in China, the United States, Europe and other major markets.
Musk affirmed the effectiveness of his "price impulse" strategy during the earnings call. "Orders so far this year are at an all-time high compared to previous years and are nearly double production capacity," Musk said."
Musk said, "I think there are a lot of people who want to buy Tesla cars but can't afford it. These price changes do have an impact on ordinary consumers."
Although Tesla's better-than-expected performance has appeased some investors, some of the factors that worry them still exist.
At this conference call, Tesla's first pickup truck model C Cybertruck mass production has been delayed again. Musk mentioned that Cybertruck production may begin in the summer of 2023, but actual mass production will begin in 2024. Initially, Tesla said that Cybertruck would begin mass production in 2021, but later due to the epidemic, the mass production time of the model was delayed several times. Mass production will begin at the end of 2023.
In order to increase investor confidence, Musk revealed that mass production will be carried out at the Texas Gigafactory, and the company has begun to install the production equipment required for Cybertruck assembly, including the production of castings for the electric pickup body. Tesla also said that it is developing a new vehicle platform, and more details will be announced in March.
In addition, Twitter The acquisition is also one of the important factors affecting Tesla. In 2022, the various controversies caused by Musk's entry into Twitter have significantly affected Tesla's stock price, and Tesla's stock price also hit its largest decline in history last year.
Musk stated in the earnings call that he has about 127 million fans on the platform and is still growing. "This shows that I am quite popular, but maybe I am not popular with some people." He stressed, “Twitter is a powerful force driving demand growth for Tesla. "
Musk believes that although many people are complaining, the value of Twitter is huge. He also encourages more companies to use Twitter because this platform is interesting, informative, and entertaining, which can help companies increase sales.
Although Musk is very optimistic, he also has a lot of troubles.
According to the " Wall Street Journal " report on January 24, SRINineMarketSquare LLC, the landlord of Twitter headquarters in San Francisco, officially launched a lawsuit against Twitter, claiming that Twitter owed nearly $7 million in rent in December last year and January this year.
SRI. Nine Market Square LLC said that Twitter violated the terms of the lease last December and failed to pay nearly $3.4 million in monthly rent. They recovered this amount from the credit line that Twitter used as a security deposit. In January of this year, the landlord violated the lease again, and after withdrawing the remaining $266,000 of the credit line, Twitter currently owes $3.16 million in rent. 1
In addition to the San Francisco office, the Twitter office in London is also in arrears with rent. According to a previous report by the " New York Times ", Twitter stopped paying rent for offices around the world a few weeks ago.
Reporter | Zhang Lingxiao. Editor | He Xiaotao Lan Suying Du Bo
Proofreading | Zhao Qing
| Daily Economic News nbdnews Original article |
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