Against the sky! Undisputed global leader, Tesla made 21 billion yuan in the first quarter of 2022

On April 21, Tesla released the first quarter of 2022 financial report, which summed up in one word: cow!

A super-vigorous quarterly report

According to the financial report disclosure: Tesla's first-quarter revenue was $18.76 billion, an increase of 81% year-on-year. Net profit in the first quarter was $3.318 billion, up 657.6% year-on-year, and all figures exceeded market expectations.

The absolute value of this net profit, especially the increase is really terrifying!

Please note that the unit behind the financial report figures is the US dollar, which is converted into RMB, that is, Tesla's revenue reached more than 120 billion yuan in the first quarter, and the net profit exceeded 21 billion.

Just two days ago, the Ningde era released the 2021 annual report: the revenue is more than 130 billion yuan, the net profit is 15.9 billion, that is, the Ningde era, the revenue of the whole year of 2021 is comparable to Tesla's revenue in the first quarter of 2022, more than 10 billion yuan, and the net profit is 5 billion less than Tesla's first quarter.

Ningde era is now the global power battery leader, one of China's global new energy vehicle chain in the façade, can also be regarded as one of the hopes for the future of China's automobile industry, but also last year's crazy market sought after new energy vehicle leader, is revered as Ning Wang.

But it is such a big Mac, compared with Tesla, it seems to only be rationed to it with shoes...

What is even more shocking is that the gross profit margin of Tesla's automobile business in the first quarter was as high as 32.9%, which was much better than the previous market expectation of 28.4%!

What is the concept of this gross margin?

According to the official price of the most popular Model 3 afterdrive version and model y rear drive version sold by Tesla, the official price is 279,900 and 316,900, that is to say, for every model 3 rear drive version sold, Tesla can earn 90,000 yuan, and every time a model y rear drive version is sold, it can earn more than 100,000 yuan!

In contrast, in Wei Xiaoli, the gross profit margin of Weilai and the ideal vehicle can be broken by 20%, and Xiaopeng is only 11.5%, which is a huge gap. Domestic second- and third-tier new energy vehicle brands are even more miserable, such as the gross profit margin of zero-running cars is -44.3%, and selling one is a big loss.

At a time when domestic new energy vehicle companies are still struggling for profits, Tesla has begun a virtuous circle stage of selling one and making a lot of money!

And you should know that Tesla's gross profit margin was greatly affected by the epidemic last year, chips, supply chains, raw materials and other aspects have been greatly affected, especially on the basis of the crazy price increase of various bulk raw materials last year, which can be seen that Tesla's super cost transfer ability.

Its cost transfer ability is reflected in two aspects: on the one hand, it can directly transfer cost pressure to consumers through price increases; on the other hand, its super industry position and huge sales scale also make it impossible for upstream batteries, accessories and other suppliers to easily conduct price transmission to it.

Tesla is still engaged in integrated casting, which means that the manufacturing cost of subsequent vehicles can continue to decrease, and the gross profit margin can continue to increase.

In terms of sales, Tesla vehicle deliveries in the first quarter were 310048 vehicles, an increase of 68% year-on-year, which was too bad! Among them, the Model S and Model X models are 14724 units; the Model 3 and Model Y models are 295324 units.

This growth data shows that Tesla's several price increases in the second half of last year and this year have no impact on sales, and the only problem affecting its sales is production capacity!

Scary Tesla

The evidence is that Tesla's global average inventory cycle in the first quarter was only 3 days!!!

This means that, for the current Tesla: there is no concept of inventory at all, and the car is delivered to the store.

This feels like buying a house in previous years, the more the price increases, the crazier everyone buys, the less likely it is to buy a house.

Don't they all say that cars are consumables, Tesla is a raw car sold into a wealth management product!

In terms of production capacity, at present, Tesla has four super factories in Shanghai, Fremont, Berlin and Texas responsible for vehicle manufacturing, but now the mature operation of the Shanghai super factory and the Fremont plant, the former has an annual production capacity of 750,000 vehicles, the latter 600,000 vehicles, and a total global production capacity of 1.35 million vehicles.

The two gigafactories in Berlin and Texas will gradually start delivery in March and April, and Musk is confident about the ramp-up speed of the capacity of these two plants, saying confidently: "We have an experienced team and have learned a lot from the Shanghai gigafactory." ”

Previously, Musk said at the opening ceremony of the Texas Super Factory that "the Texas Super Factory will be the world's largest factory, its area is 10 times larger than the Shanghai Super Factory, it will be able to do every 45 seconds off the production line of a complete vehicle, it is expected that next year, the annual output of the Model Y of the Texas Super Factory can reach 500,000 vehicles!" “

Matching the crazy capacity construction is Tesla's product planning: the Model Y of the 4680 structural battery pack is coming; in 2023, Cybertruck will achieve mass production; in 2024, the Robotaxi model dedicated to driverless taxis will also be mass-produced.

Future sales expectations: Tesla sales are expected to grow by 60% in 2022 and maintain an annual growth rate of more than 50% in the next few years, reaching the goal of 20 million sales by 2030!

Musk also mentioned this goal before, which was very difficult at the time, and now it seems that maybe everything is possible, especially if you count the driverless taxi type, it is very likely.

We all know that last year and this year, the price increase of raw materials upstream of new energy vehicles was very crazy, as a well-deserved global new energy vehicle leader, Tesla has also been affected, in order to avoid the follow-up supply chain to the company's constraints.

At the end of 2021, Tesla signed a four-year supply agreement with Syrah Resources, an upstream battery raw material company, totaling 8,000 tons of African graphite, and at the end of March, signed a secret agreement with Vale, the world's largest nickel producer, to ensure the supply of nickel.

It can be said that tesla's quarterly report is impeccable in any way, and there is no doubt that Tesla is in an extremely good time, and the future looks bright and infinite.

Now look, the traditional fuel vehicles, has long been not its opponents, whether can let the development speed of this crazy guy stop, it is estimated that it depends on China's new energy vehicle companies, can be angry and strong, to Tesla to create some real threat challenges.

Tesla's inspiration

To be honest, after reading Tesla's quarterly report, Leo's feelings are mixed.

On the one hand, I am very emotional: why can the United States be so strong, and why has the US stock market been going so well? Indeed, because they have given birth to a succession of very profitable global companies.

Secondly, it is understandable why capital markets are sometimes willing to give very high valuations to companies that look very promising in the future, even if they are currently losing a lot of money, because once these companies start to make money, the growth of profits is indeed very frightening, it is a proper money-making machine.

The previous typical was Amazon, now it is Tesla's turn, and it is predictable that in the future, Tesla's future growth is much more terrifying than Amazon's.

The third is envy, envy of the United States, envy of the United States stocks, can always give birth to such a global pioneering enterprise, the reason is worth our study and deep thinking.

I only hope that my big China, my big A shares, can only continue to give birth to a number of world-class, can continue to make a lot of money, especially to earn the money of the people of the world, then the prosperity of the big A shares can really come, and the national fortune of Changlong can continue!