On April 20, Tesla announced the first quarter of 2022 financial report, of which the total revenue reached 18.8 billion US dollars, about 121.11 billion yuan; the automobile sales revenue reached 14.218 billion US dollars, about 91.57 billion yuan, the gross profit margin reached 32.9%; the operating income was 3.6 billion US dollars, about 23.2 billion yuan; and the cash flow reached 18 billion US dollars. It is about 115.98 billion yuan; the net profit is 3.318 billion US dollars, about 21.38 billion yuan; and the total debt is already below 100 million US dollars, about 644 million yuan.
It is understood that Tesla's total revenue in the first quarter of 2022 increased by 81% year-on-year, mainly due to the increase in vehicle delivery volume, the increase in average transaction unit price and the increase in income of other businesses.
In the first quarter of this year, Tesla delivered 310,048 units in the global market, including 295,324 units of the more affordable Model 3/Y series and 14,724 units of the more high-end Model S/X series. In terms of capacity, Tesla produced a total of 305,407 units worldwide in the first quarter, of which 291,189 units of the Model 3/Y and 14,218 units of the Model S/X were produced.
In terms of operating income, Tesla's operating margin in the first quarter of this year was 19.2%. The increase in operating income was primarily due to higher vehicle deliveries, higher average unit prices, lower cycling costs, and lower stock-based compensation expenses. At the same time, Tesla said that the purchase of raw materials, necessities and logistics, the rising cost of improving efficiency, and the increase in operating costs also restricted the further improvement of the company's operating income to a certain extent.
In the cash flow segment, Tesla's cash, cash equivalents, and short-term securities value increased by $300 million to $18 billion in the first quarter. Tesla also repaid $2.1 billion in debt in the first quarter, so Tesla's total debt fell to less than $100 million in addition to auto and energy product financing.
In the earnings report, Tesla said that the fully autonomous driving FSD beta version has been updated 7 times in 2022, and the research and development team will continue to work on reducing the number of mistakes in the system, especially by reducing deceleration events to improve the accuracy of the FSD in unprotected left turns and smooth driving, with the goal of releasing the FSD beta version to all U.S. FSD customers by the end of this year.
In addition, Tesla said that nearly half of tesla cars produced in the first quarter were equipped with lithium iron phosphate (LFP) batteries that did not contain nickel or cobalt. At present, lithium iron phosphate batteries are used in most of Tesla's standard models and commercial energy storage applications. In addition, thanks to the energy-saving motor, the Model 3 equipped with a lithium iron phosphate battery pack can still achieve an EPA range of 267 miles (about 430 km).