The great international company of vehicles utilities surged in revenue gains. As disclosed, more than 5% of shares gained strength after Elon Musk announced that the manufacturer will be able to produce two million electric cars in 2023. The billionaire's announcement was enough for Tesla's numbers to skyrocket.
Tesla's Revenue Soars
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In the last months of 2022, the manufacturer scored US$ 17.72 billion in revenue and US$ 2.52 in earnings per share.
- Revenue: $24.32 billion (expected, according to Refinitiv, was $24.16 billion);
- Earnings (adjusted): $1.19 (expected, according to Refinitiv, was $1.13).
In the last four months of the year, the company's revenue reached US$ 21.3 billion, which points to an annual growth of 33%. US$467 million originated from regulatory credit for the last four months of 2022. This reflects a reach of nearly 50% over the same period in 2021.
Shareholders suggest that prices could become more affordable so Tesla can sell millions of cars annually. Everyone recognized that the average sales price does not allow the manufacturer to reach even greater numbers in the coming years.
Still in 2022, Tesla made cuts in car values around the world. This positioning caused great inconvenience to customers in the United States and China who had already purchased the cars. Customers protested the lower amounts and many of them wanted to receive the difference amount as a chargeback.
The drop in prices has generated greater demand for company.
Elon Musk, during a conference with analysts and shareholders, demonstrated his surprise: “So far, in January, we have seen orders stronger than ever in our history. We are currently seeing orders at nearly double the production rate,” said the Tesla CEO.
At the meeting, Musk was questioned by an analyst. He asked about the expected low production for 2023 – of 1.8 million – as production increased at factories. Upon questioning, he replied:
“We're saying 1.8 because there always seems to be some force majeure thing that happens somewhere on Earth. We do not control whether there are earthquakes, tsunamis, wars, pandemics, etc. If it's a smooth year without a major supply chain disruption or a major issue, we have the potential to make 2 million cars this year. I think there would be demand for that too”, he said to justify the numbers.
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