Tesla's fourth-quarter revenue was $25.2 billion and net profit was $7.9 billion
Tesla announced a series of key figures in its fourth-quarter earnings report, including revenue and net profit. Total revenue for the fourth quarter was $25.2 billion, up 3% from $24.3 billion in the year-ago quarter. Net income attributable to Tesla's common shareholders was $7.9 billion, up 115% from $3.7 billion in the year-ago quarter.
Tesla remained profitable despite some challenges in the fourth quarter, such as a drop in the average selling price of cars and higher costs for increasing the production of its electric pickup Cybertruck. This is due to its efficient operation and cost control, as well as its leading position in the electric vehicle market.
Tesla also highlighted the sales performance of the Model Y in its earnings report. The company said the Model Y became the world's best-selling electric vehicle in 2023 with 1.2 million units sold. This shows that Tesla's Model Y model is popular with consumers worldwide and generates significant revenue for it.
Tesla's energy division also had a breakthrough year
Energy production and storage profits have almost quadrupled in 2023, indicating that Tesla's business in the energy sector has also made significant progress. After the earnings report, Tesla's U.S. stock fell more than 5% after hours. This could be due to uncertainty among investors about Tesla's future outlook or some concerns about Tesla's finances.
Tesla CEO Elon Musk expects mass production to start around the end of 2025 when talking about the new model. The platform incorporates a host of new technologies and is accompanied by new manufacturing innovations. Speaking about mass production, he emphasized that the car will go into production at the Texas plant, where it will be easier for engineers to participate in the project.
Musk admits that battery production remains a challenging task. But the production of 4680 batteries is already ahead of the Cybertruck, and the company is taking more steps to further increase battery production. He said the Cybertruck's current constraint is production rather than demand, and expects to complete deliveries of existing orders this year.
Tesla is working hard to achieve its mass production plans for its new models and solve challenges such as battery production
The company is also taking steps to increase production of 4680 batteries to meet demand. As Tesla continues to advance its EV program and technological innovations, we can expect more exciting advancements and breakthroughs.
Tesla's chief financial officer, Taneja, admitted that Tesla's growth rate may slow down during certain periods. He said Tesla focused on reducing vehicle costs in the fourth quarter to maintain profit margins.
Musk also added that he believes profit margins will remain at a good level if interest rates fall rapidly. This shows that Tesla has some flexibility in responding to interest rate changes and will continue to seek to reduce costs and improve efficiency.
In terms of Gigafactory expansion, two Tesla executives noted that the expansion of Gigafactory Nevada has already begun, while preparations for Gigafactory Mexico have also begun. These expansion plans will help increase Tesla's production capacity and further strengthen its position in the electric vehicle market.
Musk also mentioned the progress Tesla has made in developing the Optimus Prime robot
Tesla's cars are not just vehicles, they are robots with wheels. This shows that Tesla is exploring the possibility of combining robotics with car manufacturing to develop more innovative and competitive products.
Musk spoke highly of the excellent performance of Chinese automakers and believes that they have the potential to achieve great success on a global scale. He said that Chinese automakers are very good, and if there are no trade barriers, they will replace most other car companies in the world and dominate.
China's automotive market has become one of the largest in the world, and Chinese automakers have made significant progress in technological innovation, quality improvement, and brand building. These advances have not only been recognized by the domestic market, but also gradually gained wide recognition and attention in the international market.
The Chinese government has played an important role in the development of the automotive industry
Through policy guidance and technical support, the government has promoted the rapid development, transformation and upgrading of the automobile industry. At the same time, the government has also actively promoted automobile companies to strengthen brand building, improve product quality and service levels, laying a solid foundation for China's automobile industry to go global. Chinese automakers have also made major breakthroughs in areas such as electric vehicles, connected vehicles and shared mobility. The development of these emerging areas has brought new growth points and competitive advantages to China's auto industry, making Chinese automakers more competitive in the international market.
While Chinese automakers have made significant achievements, they still face a number of challenges and constraints. For example, trade protectionism and technical barriers may limit the entry of Chinese automobiles into certain international markets, while China's auto industry still needs to strengthen its independent innovation capabilities and personnel training to further improve product quality and technical standards.
There is some reason why Musk spoke highly of the excellent performance of Chinese automakers. China's automotive industry has made significant progress in technological innovation, quality improvement and brand building, and has made major breakthroughs in areas such as electric vehicles, intelligent networking and shared mobility. In the future, China's auto industry still needs to strengthen its independent innovation capabilities and talent training, further expand the international market, and enhance the international influence of Chinese auto brands.