Introduction
Lead
There is no harm without comparison, BYD's vehicle sales in the first quarter are only more than 10,000 units less than Tesla's, but the net profit difference is 22 times. The gross profit margin of the bicycle is even more frightening: 32.9%!
Editor/Kong Wenqing
There is no harm without comparison, BYD's vehicle sales in the first quarter are only more than 10,000 units less than Tesla's, but the net profit difference is 22 times.
Tesla's first-quarter financial report was released today, and the revenue of 2022Q1 reached $18.8 billion, an increase of 81% year-on-year, and the net profit reached a staggering $3.318 billion, a year-on-year increase of 658%.
The gross profit margin of the bicycle is even more frightening: 32.9%!
Tesla's 32.9% auto gross margin crushed all the new and old manufacturers in the auto industry, catching up with the world's most profitable company, Apple, which has a gross margin of more than 40% in the past 12 months.
In the automotive industry, even the most profitable companies such as Toyota and Mercedes-Benz have a gross profit margin of about 15-18%, Wei Xiaoli is around 18%, and BYD is 16%.
So, why is Tesla's ability to absorb money so strong?
In last week's TED interview, Elon Musk told the secret: I am the most knowledgeable person in the world to make.
Unlike traditional car manufacturers, Tesla treats the factory as a product to build,
Vertically integrated transformation in key areas, through a series of innovations, improve efficiency and reduce costs.
The integrated casting technology first used on the model Y has made the "rear body assembly" of the original 370 parts spliced into two or three castings, reducing manufacturing costs by 40%.
This single big guy worth 700 million yuan, Tesla's Shanghai factory has three.
The Berlin Gigafactory produces a single Model Y body in just 45 seconds, and the Model Y model takes only 10 hours off the production line, which is one-third the time it takes for a Volkswagen ID.3 electric car.
Tesla produced only 12,000 workers in 500,000 cars at its Berlin factory, while Volkswagen produced only 700,000 cars in Wolfsburg with 25,000 workers.
In the face of chip shortages, Tesla has been able to keep production lines up and running in part because it relies on in-house software engineering expertise, which makes it more comfortable than many rival automakers in adapting to global chip supply shortages.
Tesla has the advantage of being a latecomer, designing cars from scratch and better integrating systems.
The integrated CTC technology that integrates the battery directly into the turf, and the 4680 battery that increases efficiency and reduces costs, were pioneered by Tesla.
Tesla squeezed into the ninth most profitable company in the world with less than a million sales, although it is four times worse than the first Mercedes-Benz with sales of only 2.09 million but a net profit of 162.4 billion, but Tesla's future is more imaginative.
Since Jobs pioneered Apple's business model of hardware grasping users and software ecological construction, software services have become the coveted profit point of all enterprises in the Internet era.
In the third quarter of last year, Tesla's service revenue including FSD accounted for 6.5% of revenue in the quarter. The price of Tesla FSD will rise to $12,000, and the FSD alone will pay more than 1/4 of the price of the whole vehicle. This will further open tesla's profit ceiling.