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Introduction
In the past quarter, China is currently Tesla's second largest market, and in the context of selling more cars, there is a gap between the efficiency of "making money" and the US domestic market.
Author 丨 Cui Liwen
Responsible editor 丨 Cui Liwen
Editor 丨Zhu Jinbin
"Thank you to the Chinese government."
On January 7, 2020, Beijing time, when the first domestic Model 3 was located on the assembly line of its Shanghai factory, Musk, who was present in person, not only showed a happy smile, but also said the opening sentence of the article at the beginning of his speech.
As the helmsman of the company, he clearly knows what this new energy market, which contains huge needs and opportunities, can bring himself and Tesla.
In that year, the company's market value jumped beyond Toyota to the top of the automotive industry, the total production and sales approached the 500,000 mark, achieved positive profitability throughout the year, and the completion of many milestones has been able to prove many things, and China has played a very strong role as a "booster".
And the speed of the whole jump is far faster than imagined.
More than three hundred days later, with the first domestic Model Y also located in Tesla's Shanghai Lingang factory offline, as a bystander we know that a more rapid harvest officially kicked off. It was also in that year that the company's market value exceeded the trillion-dollar mark for the first time, the total production and sales reached more than 900,000 vehicles, and the net profit at the financial level continued to rise year-on-year.
At this point, it can be said that this American new energy vehicle company, which has suffered many criticisms, has completely hit back all the doubts from the outside world with a solid report card. What is even more terrifying is that when the tide of electrification transformation intensifies, Tesla has become the undisputed "frontrunner" in the world.
As an argument, after the US stock trading session on April 20, local time in the United States, Tesla officially released its 2022 Q1 financial report, and the biggest feeling brought by people after reading the whole article is: "It, kill crazy." ”
Several key data, which measure the current state of development, have reached record highs.
Among them, the quarterly total revenue reached $18.756 billion, an increase of 81% from $10.389 billion in the same period last year, higher than analysts' expectations of $17.92 billion. Net income attributable to common shareholders was a staggering $3.318 billion, up 658 percent from $438 million in the year-ago quarter and also significantly outpacing analysts' expectations of about $2,156 million.
In the vehicle business, total quarterly revenue reached $16,861 million, up 87% from $9,002 million in the year-ago quarter. The gross profit margin of bicycles was as high as 32.9%, an increase of 6.36% over the same period last year.
In simple conversion, taking the rear-wheel drive version of the Model Y currently on sale in the Chinese market at 316,900 yuan as an example, the profit of each new car sold has exceeded 100,000 yuan. At the same time, as of Q1 2022, cash holdings and cash equivalents reached $17.505 billion, an increase of 2% compared to the same period last year.
After releasing such a strong financial report as an endorsement, Tesla undoubtedly completely proved the feasibility of the business model it advocates.
As everyone knows, just a few days ago, according to its filing with the American Securities and Exchange Commission (SEC), tesla's revenue in China reached $4.65 billion in Q1 2022, equivalent to about 30.5 billion yuan, an increase of about 53% compared with $3.04 billion in the same period last year.
After further understanding, it is learned that China, as the second largest market in Tesla's strategic map, accounts for 24.8% of the company's total revenue, and the United States is the most important source of revenue for Tesla. The revenue of the entire Q1 in this market reached $8.734 billion, an increase of 97.4% year-on-year, accounting for 46.56% of the company's total revenue.
It is very interesting that according to tesla's official data, the entire Q1 it is located in the world to deliver nearly 310,000 new cars. According to the data released by the Association, a total of 182,000 new vehicles were delivered in China after export, accounting for 58.8% of the total share.
Then want to throw out a new topic: according to tesla's revenue growth in the United States and China market year-on-year, and then take the new car delivery as a measure factor, although it sold more cars in China, but it did not "make money" as imagined. In other words, the revenue capacity and efficiency of the latter sector are actually inferior to those in the previous sector.
I wonder, for what reason?
Before elaborating, the first thing that needs to be emphasized is that the reason why the above-mentioned "conclusion" is established is based on the vertical comparison of Tesla's delivery volume and revenue in the first quarter of China and the United States in the past two years.
Therefore, an environmental factor must be taken into account. In the same period last year, it was the time when the epidemic in its home country was rampant, which in turn gave rise to fluctuations and even stagnation in many corresponding links, and everything was very smooth in China.
By this year, the situation had just been reversed. On the one hand, the US government officially announced that the epidemic was basically over, and on the other hand, as the "Omicron" location intensified, Shanghai, where tesla factories are located, has been in a shutdown since late March.
So naturally there is the illusion that, as the title of this article says, "In China, Tesla did not make money in the imagination." Looking deeper, it is also caused by fluctuations caused by sudden changes in the environment.
As Tesla said in a filing with the U.S. Securities and Exchange Commission (SEC): "The main impact of the epidemic is more focused on logistics, supply chain challenges and cost increases, such as increased port congestion, intermittent supplier delays and semiconductor supply shortages." "In addition, it must also experience different degrees of inflation.
In addition, Tesla also said: "Because we cannot judge the duration of the COVID-19 pandemic or global economic trends, we will continue to monitor macroeconomic conditions to maintain flexibility and optimize and develop corresponding businesses as appropriate." At the same time, global demand and infrastructure requirements must be accurately forecasted, and production, labor, and other resources deployed accordingly. ”
Seeing this, I suddenly thought of a paragraph said by an analyst at a research institution before, "With the further jump in process, cost, capacity, etc., and the higher growth of the user base, the company's leading edge on the manufacturing side will continue to gradually appear." ”
At present, even if it is constrained by a variety of unfavorable factors, Tesla can still show a strong ability to resist pressure and risk.
At the end of the article, it is still that view: in 2022, whether it is located in the United States or in the Chinese market, the epidemic can only slow down the speed of its impact on more milestones a little, but it will definitely not stop Tesla under Musk's leadership and create the best fiscal year in its history.
Oh, yes, and I want to share that just a few hours ago, from the exclusive news of Reuters, the site of Tesla's long-rumored factory in Hua'er was basically finalized, and it is still the most suitable Shanghai for all parties.
At this point, a bigger harvest feast has begun...
| Cui Liwen |
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