The American manufacturer of electric cars and solar panels “Tesla” (Tesla) reported a record net profit for the last quarter of last year – 3.69 billion dollars, which is 59 percent more than for the same period of the previous year, the Associated Press reported, quoted from BTA.
The company’s revenue for the final quarter of 2022 was $24.32 billion, below analysts’ expectations of $24.67 billion.
Tesla Chief Executive Elon Musk said that despite price cuts of up to 20 percent on some of the cars announced earlier this month, demand for the company’s products is strong and sales are constrained by production.
Some analysts said the price cuts were a sign of a decline in Tesla’s sales, but since the beginning of January the company has recorded the most significant volume of orders for the start of the year in its history, as Musk noted in a webcast with analysts.
“We think demand will be good despite the likely contraction of the car market as a whole. Demand is significantly outstripping production,” Musk stressed, adding that Tesla is even raising prices slightly.
In a letter to investors yesterday, the company announced that it will produce about 1.8 million cars this year, and Musk predicts that sales will be of that order.
