On January 27, Tesla released its full-year earnings data, and total revenue in the fourth quarter increased by 65% year-on-year to $17.7 billion, thanks to higher vehicle deliveries and growth in other business segments. Operating profit in the fourth quarter increased to $2.6 billion and operating margin of 14.7% due to further reductions in bicycle costs, among other reasons.
Tesla's GAAP net profit reached $5.5 billion and free cash flow of $5 billion in 2021, excluding $6.5 billion spent on new plant construction and other capital expenditures.
The data shows that Tesla deliveries increased by 87% in 2021, breaking the record of about 940,000 deliveries in 2021.
Tesla said it plans to increase production capacity as quickly as possible, not only from new factories such as Austin and Berlin, but also to existing factories such as Fremont and Shanghai. Vehicle delivery is expected to grow at an average annual rate of 50% in the coming years. However, with supply chains becoming a major limiting factory, Tesla factories have been running below capacity for several consecutive quarters, and this is likely to continue in 2022.
In 2021, the gross margin of Tesla's services and other segments increased to -2.7%, which is not only the best performance in five years, but also broke through the break-even in the fourth quarter of 2021. Tesla's used car sales business will remain strong in 2021, and other businesses such as services, boutiques and accessories sales will also improve profits.
"Fully autonomous driving capability (FSD) remains one of our focus areas. Over time, software revenue will contribute to overall profitability to a greater extent. What's more, fully autonomous driving capabilities are an important part of improving car safety, and through the increase in Tesla vehicle usage, it will further accelerate the world's transition to sustainable energy. ”
[Reporter] Gong Qianshu
【Author】 Gong Qianshu
【Source】 Southern Press Media Group South + client
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