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Text ▍ Chen Bo
In January this year, Musk became the world's richest man, and after a brief taste of the world's richest man, Amazon boss Bezos won the title again.
However, after 10 months, Musk's big name appeared at the top of the rich list. On October 15, local time, Bloomberg released the latest edition of the Bloomberg Billionaires Index. Tesla and SpaceX CEO Elon Musk are once again the richest man at $241.4 billion, and the wealth power = Bill Gates and Warren Buffett.
How did the bohemian Musk become the world's richest man?
This must all be attributed to Tesla, whose sales can swallow mountains and rivers.
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<h1 class="pgc-h-arrow-right" data-track="16" > Tesla Q3 made a big profit and made a new profit</h1>
In the early morning of October 21, after the US stock market, Tesla's ruthless money-making machine released an explosive-level financial report. In the past third quarter, Tesla achieved revenue of $13.76 billion, an increase of 57% year-on-year, of which automobile revenue was $12.06 billion, an increase of 58% year-on-year; net profit attributable to common shareholders reached $1.618 billion, an increase of 389% year-on-year, compared with the previous market expectation of $1.3 billion.
The Q3 Tesla's performance in production and delivery was truly impressive, producing 237,800 new vehicles and delivering a record 241,300 vehicles, including 232,000 Model 3 and Model Y. It is also such a bullish financial report that quickly allows Musk to sit on the throne of the world's richest man. Musk is still the same skin as ever, and said: "I want to send a huge statue of number 2 to Bezos, and a silver medal." ”
In 2019, Tesla is still a highly questioned new energy vehicle company, and even the US Securities and Exchange Commission (SEC) has also raised several questions about Tesla's 2018 annual report and 2019 Q2 financial report, so that Musk angrily sent several tweets in a row and resigned as chairman.
However, it is surprising that although Musk and his Tesla are both controversial people around the world, this does not prevent Tesla's sales from flourishing, and the more controversial it is, the better it sells.
Now in just 2 years, Tesla has opened a new scene, and what supports Tesla to complete this bull-breaking achievement is their extremely crazy delivery results. The reason why Tesla's single-quarter sales can exceed 240,000, and the month-on-month growth can be as high as 19.9%, half of which is due to Tesla's Chinese gigafactory. In October 2019, Tesla's China factory was officially put into full operation, and it is exactly 2 years today.
Tesla's amazing performance this season is because it has gained benefits in the Chinese market. So far, the Shanghai Gigafactory has become Tesla's main car export center. On the other hand, China is also a big seller of Tesla, and in the past Nine months alone, Tesla has delivered 33,033 ModelY units in the Chinese market, becoming the most popular SUV model in the domestic market. Therefore, Musk can become the richest man, and he really should thank Chinese consumers.
At the same time, thanks to the commissioning of the Shanghai factory, Tesla's car manufacturing costs began to decline sharply in the past two years, and Tesla's pricing has also dropped again and again. As soon as the "price butcher" is shot, he knows whether there is one or not. While the price of the car is getting lower and lower, Tesla's profit margins are staggering. In Tesla's earnings report, the official restrained and Versailles wrote: "The profit margin of the automobile business is 30.5%. ”
What is the concept of a 30.5% profit margin?
That's almost twice as much as a traditional car factory. Under such a strong profit crushing, I really don't know how traditional car manufacturers will compete with Tesla in the future, the gap is too large, so that they seem to have lost the ability to fight back.
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Tesla's annual sales of one million are just around the corner
On the new energy track, Tesla is a unique offensive player, and each price cut will make the car company unable to sleep for several days. According to Tesla tradition, they will not let the profit margin be high for a long time, so there will inevitably be a wave of big price cuts to reduce the profit margin.
I personally expect that within 3 to 6 months, Tesla will most likely have a large wave of price cuts. The blockbuster model Model 3 and Model Y will make another big bargain to achieve higher sales and market share. At that time, once the price reduction is realized, whether it is a traditional car company or a new force of car manufacturing, no matter how hard they try, they will only be left with a sigh of hope.
Not long ago, Tesla said that it would break through the 1 million sales mark next year. Now, whether it is from Tesla's delivery volume, revenue or record figures in the financial report, they have all the factors that should be for an annual million-car company. Single-quarter sales exceeded 240,000, this figure has surpassed the BBA, so Tesla hit sales of 1 million, just around the corner.
Tesla's explosion is far more than sales, but also in profit performance. This time, Tesla's net profit in a single quarter reached $1.618 billion, more than 2 times higher than the net profit of $721 million in 2020. Tesla has been under the spell of loss until 2020, when it achieved its first profitable year. Comparing the two, it is more obvious how explosive the Tesla Q3 overturned battle.
In addition to the sales strategy and Chinese factories, Tesla's own technical proficiency is also one of the key factors to ensure that Tesla's sales can take off.
Tesla is a pioneer of new energy vehicles, and in the industry for more than 20 years, whether in automatic driving or battery technology, they have been constantly updating with the times, far ahead of other new car-making forces. In addition, Tesla's manufacturing technology is also outstanding, the integrated frame allows them to get rid of manual operation, almost most of the procedures are completed by the machine, so the high production efficiency of Tesla has the confidence to reduce costs.
In addition, there are several eye-catching data in Tesla's earnings report. One of the most noteworthy is the inventory cycle of only 6 days. For car companies, too long inventory cycle will become a great burden, indicating that the car can not be sold. Tesla, which has a cycle of only 6 days, has once again proved that their car is indeed a very good seller. At the same time, the short-term inventory will also make Tesla's cash flow become very abundant, thus adding a strong impetus to their sustainable development.
All in all, Tesla is becoming the strongest new energy vehicle company in the universe at the rhythm of destruction and decay, and the growth rate in all aspects is staggering. Tesla's sales are expected to grow by another 50 percent next year, which means that their total sales are highly likely to reach 1.5 million units. If it can really develop according to this expectation, tesla will really become the world's first car factory in less than 5 years, and then the stock price will soar.
Finally, I wish Musk a longer reign in the position of the richest man.