On April 21, Tesla released its first quarter 2022 financial report. According to the data, as of March 31, Tesla's total revenue reached $18.756 billion (about 120.2 billion yuan), an increase of 81% year-on-year. Net profit attributable to shareholders was US$3.318 billion (about 21.28 billion yuan), up 658% year-on-year, a record high.
In terms of car sales, Tesla's total car production in the first quarter was 305407 units, an increase of 69% year-on-year, of which the production of model S/X was 14218 units, and the production of Model 3/Y was 291189 units, an increase of 61% year-on-year. Vehicle deliveries in the first quarter were 310048 units, up 68% year-over-year, with Model S/X deliveries of 14,724 units and Model 3/Y deliveries of 295324 units.
Tesla's performance this quarter exceeded Wall Street's expectations, and analysts believe that the main reason is that the price of Tesla's entire series of models has been raised, helping Tesla avoid the impact of supply chain problems and rising costs, and the price increase has allowed Tesla to earn more. In addition, Tesla also earned $679 million in revenue this quarter by selling carbon credits, driving the company's profit growth.
Musk said on the earnings conference call that the price increase of automobiles a while ago was mainly due to the serious inflation problem, and some parts suppliers demanded a price increase of 20% to 30%. However, Tesla will not raise prices in the near future, and the current price already includes Tesla's expectations for future cost increases. The simple understanding is that Musk predicted in advance the extent that future costs may rise, and then now the price increases. As long as the subsequent price increase does not exceed expectations, there is little pressure, and if it exceeds expectations, it is estimated that it will continue to rise.
Since the end of last year, Tesla electric vehicles have risen in price, and in early March, they rose 3 times in 7 days, the maximum price of Model Y increased by 20,000 yuan, and some owners who did not place orders in time directly cried in the toilet. Even so, it still can't stop the popularity of Tesla's sales, but the more the price increases, the better it sells.
Tesla's official website shows that it takes 10 to 14 weeks to book a Model Y, and it takes 20 to 24 weeks to book a Model 3, with an average waiting time of 3 to 6 months. The delivery date of some models in overseas markets has been postponed to 2023, and the opportunity to pick up cars will not be available until August at the earliest. Therefore, Tesla does not worry about orders at all, just desperately produce. With the two major factories in Berlin and Texas officially put into operation, the speed of pick-up should be accelerated in the future, and the party will continue to wait and see for price cuts.