Tag: 2023
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Tesla Q4 2023 revenue, $25.167 Billion +3% yoy, net income $7.928 Billion, 115%
January 24, 2024, Tesla released its Q4 2023 earnings. Revenue was $25.167 Billion increased 3% yoy. Net income was $7.928 Billion up 115% yoy. The yoy comparison has one time non cash tax benefit of $5.9B. Gross margin is 17.6% -612bp yoy. So despite higher volume of cars in 2023, its revenue only rises 3%.…
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Tesla achieves 1.8 million cars delivered in 2023
At the beginning of the year Tesla issued 2023 annual delivery and production to be around 1.8 million vehicles. On January 2nd 2024, they announced their Q4 2023 deliveries and production and have met their commitment. Model 3/Y deliveries for the year is 1,775,159. Q4 2023 earnings will be released on Wednesday January 24, 2024.…
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Tesla Q3 2023 Earnings, $23.35 B revenue, 9% yoy, Net income $1.85 B -44% yoy
Tesla had a tough Q3 2023. Its price cuts have maintained high volume deliveries and sales to match production capacity but that has hurt profitability. Tesla Q3 2023 total revenue is $23.35 Billion which grew 9% yoy but declined -6.7% sequentially from $24.927 Billion last quarter. Net income came in at $1.85 Billion and dropped…
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Tesla Q2 2023 highlights $24.9 B revenue, +47% yoy, $2.7 B +20% yoy.
Tesla revenue for Q2 2023 came in at $24.9 Billion and GAAP income $2.7 Billion. Revenue grew 47% yoy and income grew 20% yoy. Net free cash flow $1 B, +62% yoy. They end the quarter with healthy $23B, up 22% yoy. Tesla has three sources of revenue. Automotive came brought in the majority at…
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Tesla Q2 2023 produced record 479,700 vehicles
Tesla Q2 2023 production break new record at 479,700 vehicles and delivered 466,140. Model S/X stayed flat at 19,489 produced and 19,225 delivered. The growth comes from Model 3/Y at 460,211 produced and 446,915 delivered. Q2 Earnings will be released at market close on July 19, 2023. Model Q2’23 Production Q2’23 Deliveries Q1’23Production Q1’23Deliveries Q4…
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GM, Ford to adopt Tesla charging network and North America Charging Standard (NACS)
On Jun 8, 2023, GM CEO Marry Barra in a 10 minute Twitter Spaces chat with Elon Musk announced GM will join Ford to adopt Tesla’s charging network and to build GM cars using Tesla’ open North American Charging Standard (NACS) starting in 2025. This a win win for GM, Tesla and customers. GM customers…
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Tesla Model S Plaid takes Nurburgring production EV record 7:25.231
Official Tesla twitter account reported on June 3 that their Tesla Model S Plaid have taken the Nurburgring production EV record with time of 7:25.231. That is an improvement of 8 seconds over the previous record. From official Nurburgring website: 7:25.231 Tesla Model S Plaid Track Package Tom Schwister 6/2/2023 video7:33.35 Porsche Taycan Turbo S…
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Highlights from Tesla Annual Shareholder Meeting 2023
Here are the highlights from Tesla Annual Shareholder’s Meeting for 2023. Elon in an answer to a question from Meet Kevin agreed to give advertising as an additional lever to increase demand. The central idea is 90% of the population may not be familiar with EV advantage and how affordable Teslas have become. In such…
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April 2023 jobs report shows jobs market still hot adding 253,000 jobs and 3.4% unemployment
The US labor report for April 2023 released 8:30am ET showed US economy added 253,000 jobs and employment rate is at 3.4%. The number of unemployed population is 5.7 million. The unemployment rate in March 2023 was 3.5%. In February 2020 unemployment rate was 3.5% right before the pandemic. This is a sign that things…
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Highlights from Tesla Q1 2023 earnings report, earning $2.5B -24% YoY and revenue $23.3B 24% YoY.
Tesla revenue is up 24% YoY reaching $23.3B for Q1 2023. Due the large price reductions on Model 3 and Y needed to increase demand, GAAP net income dropped -24% to $2.5B. Tesla is strategically choosing to sacrifice profit margin to keep production at full capacity. They believe over the lifetime of the vehicle, they…
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Tesla lowers Model 3 to $39,990, Model Y to $46,990 on 4/19/2023
Tesla has reduced prices for their cars on 4/19/2023. The new pricing for Tesla cars are listed below. All Model Ys quality for $7,500 EV credit and Model 3 RWD qualifies for $3,750. Model 3 Performance qualifies for full $7,500 EV credit. Model Price, Price with EV credit applied. Model Y $46,990, $39,490 Model Y…
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March 2023 inflation rises .1% and 5% year ago.
Inflation rate of change has declined. It rose just .1% for March. In February it was .4% and January was .5%. It is trending in a good way. Shelter is biggest inflation contributor and rising .6%. Energy declined by 3.5% for the month. Food fell slightly by .3%. Without food and energy, inflation rose .4%.…
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Tesla to build Megapack factory in Shanghai and 45k Superchargers milestone
Tesla announced on Twitter that they will be building their second Megapack factory in Shanghai. Their first is in Lathrop California with production capacity of 40 GWh. In 2022, Lathrop deployed 6.5 GWh Megapacks. The Shanghai factory will be capable of producing 10k Megapacks/year. Each Megabuck has 3MWh of energy and can power 3,600 homes…
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Tesla Q1 2023 Production & Deliveries
Tesla Investor Relations web site released its Q1 2023 productions and deliveries results. They will have more details in its Q1 earnings scheduled for April 19, 2023. Total production is 440,808 and total deliveries 422,875. Model Q1’23Production Q1’23Deliveries Q4 ’22 Production Q4 ’22 Deliveries Q1’22 Production Q1’22Deliveries Model S/X 19,437 10,695 20,613 17,147 14,218 14,724…
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Tesla Giga Berlin achieved 5000/week production rate
On March 25, 2023, Tesla in a tweet announced Giga Berlin has achieved 5000/week production rate. The tweet showed a Model Y running through the assembly line being assembled. This comes about one month after it achieved the 4000/week production rate. This is a demonstration of the continuous improvement and strong production ramp. At 5000/weekly…
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Federal Reserve raised interest rate to 4.75% to 5% in March 2023 meeting
Federal Reserve continue to see inflation elevated. Their target is 2% to reach price stability. Their believe is w/o price stability businesses will not function. To fight inflation, the committee raised interest rates .25% percent to a range of 4.75% to 5.0%. With the banking closure of SVB and weakening banking sector from deposits moving…
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Silicon Valley Bank collapsed – caused by bank run and rising interest rate
FDIC will fully protect all depositors in Silicon Valley Bank. Secretary of Treasury Janel Yello, Federal Reserve Board Chair Jerome Powell and FDIC Chairman Martin Gruenberg released a joint statement in support of Silicon Valley Bank customers on March 12, 2023. https://home.treasury.gov/news/press-releases/jy1337 They made the move to restore confidence in the banking system and avoid…