Earning Nearly 100 Million a day, Tesla Has a Way

Despite the constant doubts, Tesla's performance does not seem to have been greatly affected. On January 27, Tesla’s 2021 financial report was released. The financial report shows that last year, Tesla’s annual revenue was 53.82 billion US dollars, a year-on-year increase of 71%, and GAAP net profit was 5.519 billion US dollars. , making almost 100 million yuan a day.

This year, although a "military order" has been issued for a 50% increase in deliveries, Tesla may have to find new profit points due to problems such as insufficient chips and supply chain.

The proportion of vehicle sales revenue increased

The financial report shows that in the fourth quarter of last year, Tesla’s revenue was $17.7 billion, a year-on-year increase of 65%; GAAP operating profit was $2.6 billion, achieving an operating profit margin of 14.7%;

GAAP net profit was $2.3 billion, a year-on-year increase of 760% . In 2021, Tesla's revenue was US$53.823 billion, a year-on-year increase of 71%; GAAP net profit was US$5.519 billion (equivalent to approximately RMB 351.1298), a year-on-year increase of 665%. Some netizens said: "The net profit unit is converted into RMB, and Tesla makes an average of nearly 100 million a day, which is really Versailles!"

Judging from the book data, Tesla's vehicle sales revenue accounts for an increasing proportion of the annual revenue, while the carbon credit revenue gradually declines. Taking the fourth quarter of last year as an example, the revenue from vehicle sales was US$15.34 billion, accounting for 86.6%, while the income from carbon credits dropped to US$314 million. Last year, Tesla managed to shed its "charcoal seller" label.

Behind this is Tesla's increasing deliveries. Last year, Tesla delivered 936,200 vehicles, an increase of 87% year-on-year. Among them, the Chinese market delivered 484,000 vehicles, a year-on-year increase of 235%, accounting for more than half of Tesla's global deliveries.

While deliveries have climbed, Tesla's costs have been further reduced. According to the financial report, the cost of a single Tesla vehicle has dropped to about $36,000 in the third and fourth quarters of last year.

"The price of domestic Teslas has risen before, but it has not affected the demand of consumers to buy cars. At present, there are still orders." A staff member of Tesla's direct-operated store told a reporter from Beijing Business Daily that last year, a single store could Sold more than a dozen units, and the delivery time for Model 3 orders is now 12-16 weeks.

Yan Jinghui, a member of the Expert Committee of the China Automobile Dealers Association, said that after the launch of Tesla's two domestic models, it not only reduced Tesla's production costs, but also attracted the attention of many Chinese consumers with a starting price of less than 300,000 yuan.

Regardless of production or sales, the Chinese market is gradually becoming a global support for Tesla. According to statistics, in the second quarter of last year, Tesla's market share in China has surpassed that of Europe, becoming the second largest consumer market after North America.

A Tesla related person said: "The profitability is due to the further reduction of Tesla's single-vehicle cost, the increase in car delivery and the increase in profits from other businesses such as car rental. At the same time, Model Y is the key to Tesla's improvement in profit margins. Shanghai Supermarket The localization of factories is also an important factor.”