Last night, electric car manufacturer Tesla closed up 12.66% to close at US$1024.86. The company's market value exceeded US$1 trillion for the first time, reaching US$1026.7 billion. After Apple , Amazon , Microsoft , Google and Facebook , Tesla became the seventh stock in the history of the US stock market with a market value of more than $1 trillion.
At the same time, as Tesla's stock price soared, Musk's personal wealth soared by $36 billion to nearly $289 billion in one day. According to the Bloomberg Index, Amazon's Jeff Bezos ranked second with $193 billion.
Just yesterday, car rental company Hertz announced that it would order 100,000 Tesla car , worth US$4.2 billion, which is also the largest electric car purchase case so far.
Tesla's revenue in China increased by 78.5% in the third quarter
According to data from the China Passenger Car Association, Tesla's sales in the Chinese market exceeded 50,000 units in September, setting a record high.
Tesla's sales in the Chinese market in July and August were 8,621 and 12,885 respectively, and soared to 50,000 in September. Sales in September also contributed nearly 70% of Tesla's sales in China in the third quarter.
From the perspective of revenue, Tesla's documents submitted to SEC show that in the third quarter of this year, Tesla's revenue in the Chinese market reached US$3.113 billion, a year-on-year increase of 78.5%. In the first three quarters, Tesla achieved revenue of US$9.015 billion in China, accounting for 25% of Tesla's global revenue. Tesla's revenue in the Chinese market was US$6.662 billion throughout the year last year.
Globally, Tesla's global automobile production and sales are also continuing to rise. In the first three quarters of 2021, Tesla's total sales volume was 627,350 units, of which the sales volume of Model 3 and Model Y totaled 614,165 units, an increase of about 2.2 times year-on-year. In the third quarter of 2021, Tesla delivered 241,400 vehicles, of which 232,100 were Model 3 and Model Y.
It is worth noting that thanks to the increase in sales of Model 3 and Model Y models, which have relatively low prices but high profit margins, although the cost of car manufacturing continues to increase, Tesla's vehicle profit margin continues to improve, and its gross profit margin in the first three quarters increased from 26% last year to 29% this year.
What are the targets for the high elasticity benefit of the industrial chain? While the performance maintained rapid growth, Tesla's production expansion pace did not stop. According to Tesla's official news, the Berlin factory was completed in October and will be officially put into production after approval by the German government; the ModelY production line of the Austin factory has been trial-production, and the production capacity of the two factories has gradually climbed to 500,000 yuan/year. CICC (601066) expects that Tesla's global annual production capacity will further climb to 2.35 million vehicles by the end of 2022.
Currently, Tesla's suppliers are mainly Chinese, North American, Japanese, and Taiwan companies. China's local battery and parts suppliers benefit from price and manufacturing advantages, providing Tesla Chinese factory with space to continuously reduce prices and expand customers. Taking the Berlin factory as an example, most of its batteries and parts rely on China's exports.
investment advice, CITIC Construction Investment recommends high-elastic beneficiaries for Tesla-LG/CATL industry chain, and continues to recommend power battery leaders, Enjie Co., Ltd. (002812), Star Source Material (300568), Kedali (002850), Betree, Fulin Precision (300432), Putailai (603659), Top Group (601689) (auto Group), Jingda Co., Ltd. (600577) (auto Group), Xinzhoubang (300037), Tianci Materials (002709); it is recommended to pay attention to Huayou Cobalt Industry (603799), Ganfeng Lithium Industry (002460), etc.
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