SHANGHAI, Jan 28 (SMM) - Recently, Tesla, the world's leading new energy vehicle producer, released its earnings report for the fourth quarter and full year of 2022. The data shows that Tesla's quarterly operating income and net profit in Q4 2022 both surpassed expectations and set a new record in history. In detail, the company's fourth-quarter net profit was $24.32 billion, a year-on-year increase of 37%, and its net profit was $3.71 billion.
In terms of production and delivery, the data shows that Tesla produced 439,701 vehicles in the fourth quarter of 2022, a year-on-year increase of 44%, and delivered 405,278 vehicles, up 31% on an annual basis. Among them, the combined output of Model S and Model X totalled 20,613 units, up 57% from the previous year, and their delivery volume was 17,147 units, a year-on-year increase of 46%. At the same time, the combined production of Model 3 and Model Y added 43% on the year to 419,088 units, and the delivery volume rose 31% YoY to 388,131 units.
Judging from the whole year of 2022, Tesla's production and delivery volume both exceeded 1 million units by reaching 1.36 million and 1.31 million respectively, an increase of 47% and 40% respectively.
It is worth mentioning that since October 24, 2022, Tesla has rolled out various promotions to attract customers. For example, on January 6, 2023, Tesla once again announced a reduction in the price of its made-in-China models, with a maximum cut of 48,000 yuan. Specifically, the starting prices of the Model 3 and Model Y stood at 229,900 yuan and 259,900 yuan respectively, both hitting a record low in history.
The price cuts in January have brought a surge in Tesla's orders, the strongest monthly orders to date. It is known that Chinese car companies, represented by BYD, started to raise their prices with the removal of the national subsidies for new energy vehicles in the end of 2022. At present, only AITO and Xiaopeng Motors followed Tesla to cut their prices, while most domestic new energy car companies chose to hold their prices firm or lift the prices when the national subsidies for NEVs are removed amid constantly high prices of raw materials.
