Tesla again breaks records for both revenue and profit, once again far exceeding Wall Street analysts’ expectations and reporting very healthy economic figures for the first fiscal quarter of 2022. They have achieved revenue of 18,756 million dollars, flow-free cash of $2.2 billion, and an operating margin of 19.2%. The company has also reported a net profit of $3.3 billion.
This last figure is especially relevant since the net profit during the first quarter of 2021 was “barely” 434 million dollars. Demonstrating increasing financial health on the part of the company.
In addition, Tesla has broken historical records —in its own terms— for vehicle deliveries, with a total of 310,048 cars in the first three months of the year. They had never sold so many cars during a quarter.
Tesla’s revenue increased by _ year over year, earning profit from car sales of _ million dollars. This represents an increase of __ year over year. They have managed to do this despite ongoing supply shortages and the closure of the Shanghai factory. During the results of the fourth quarter of 2021, they warned that this would be the main challenge that the company will face throughout 2022.
That warning cost a 5% drop in Tesla’s share value which continued to fall until mid-March when it hit $766. Since then the stock has recovered and has broken above $1,000. Especially after revealing the units manufactured and delivered during the first quarter of 2022.Production and delivery of Tesla vehicles during the first quarter of 2022.
Scaling car production no matter what: Tesla’s mission during 2022
Tesla’s plans throughout 2022 will be an obsessive focus on increasing vehicle production and thus increasing sales figures and trying to scale the company. A measure that is becoming more urgent due to the incessant increase in demand for electric cars. In this sense, they have opened two new factories in recent weeks: the Giga Berlin which will supply the European market, and the Giga Austin in Texas, United States.
Both facilities will make only the Tesla Model Y, the brand’s popular electric SUV. First, they will only make a performance version and after increasing the weekly production of cars, they will begin to assemble the long-range version. The Giga Austin incorporates the 4680 structural batteries. The Giga Berlin will continue to make the vehicle with the 2170 cells.
Among the measures that the company has had to take to focus solely on increasing the production of the four vehicles that it already produces, is delaying the launch of the Cybertruck, the Roadster 2.0, and the Semi until 2023. Also during the last conference with investors, Elon Musk accepted that they are not working on the 25,000 vehicles they announced during Battery Day in 2020.