![]() ![]() Zachary Kirkhorn, Tesla's chief financial officer, said he expects Austin and Berlin will make substantial progress in 2023, especially in battery production. Musk said the cost of production in Berlin and Austin is dropping. As we've mentioned many times before, we want to be the best manufacturer."īetween its vehicle production facilities in Austin, Berlin, Shanghai and Fremont, Tesla can make 100,000 Model S and Model X vehicles and 1.8 million Model Y and Model 3 vehicles a year, the company said. "We're going to keep pushing for strong volume growth while retaining the industry's best operating margins. "We're taking the view that we want to keep making as many cars as we can," Musk said. Musk said increasing long-term production rates will be key. The company said it is on track for 50% growth moving forward. In the fourth quarter alone, Tesla made 405,278 vehicle deliveries and produced 439,701 vehicles. That was a record for the company, but fell short of Musk's goal to grow sales by 50% every year. Tesla had previously announced that it sold 1.3 million vehicles last year. More: Looking to buy a Tesla? Prices drop 20% as company tries to boost sales Tesla expects production to keep growing Tesla had lowered the Model Y price to $52,990 this month, but it is currently listed at $53,490 on Tesla's website. He said Tesla has raised Model Y prices slightly due to demand. Musk said Tesla is seeing increased demand in January, with orders coming in at about twice the rate of production. "These price changes really make a difference for the average consumer." In the United States, prices were cut between 6% and 20% on certain models. Tesla cut prices late last year and early this month in the U.S, China and Europe. The company's revenue for the fourth quarter of $24.32 billion was also a record, although it fell short of analyst projections of $24.67 billion. The company also saw a 59% more in profit than the fourth quarter in the previous year. ![]() The earnings beat Wall Street estimates of $1.13 that had been predicted by analysts, according to FactSet. ![]() Tesla made $3.69 billion in its fourth quarter, an adjusted $1.19 per share. ![]() Tesla produced its highest-ever quarterly revenue, net income and operating income in the fourth quarter.įor all of 2022, Tesla's revenue rose to $81.5 billion, a 51% jump over 2021. More: Tesla plans $700 million in growth at Austin facility, documents show Record profit, revenue to close out 2022 Some key takeaways from Tesla's earnings report. "But long-term, Tesla will be the most valuable company on Earth." "There's going to be bumps along the way, and we will probably have a pretty difficult recession this year probably. Musk said despite shaky economic conditions, he is convinced Tesla's best days are ahead of it. The company moved its corporate headquarters to Austin in 2021. "The Tesla team achieved these records despite the fact that 2022 was an incredibly challenging year due to forced shutdowns, very high interest rates and many delivery challenges."Īs Tesla continues to step up production in Austin, Musk said the company is closing in on starting to build its Cybertruck at the Central Texas manufacturing facility. "It was our best year ever on so many levels." Musk said during a Wednesday conference call with investors. ![]()
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