Tesla just announced on Wednesday, October 19, 2022 a record revenue of $ 21.45 billion in the third quarter of 2022. However, these performances fall short of analysts’ expectations and Wall Street forecasts.
In early October 2022, Tesla announced that it had delivered more than 343,000 electric vehicles in the third quarter of 2022 – a record for the manufacturer. Indeed, and it was to be expected, the brand announces outstanding results for the same period.
Indeed, Tesla announced revenues of $ 21.45 billion in Q3 2022. Note, however, that stocks fell 3.5% after the close of Wall Street following the release of the results.
The American manufacturer indeed recorded a net profit in the 3rd quarter of 2022 of 3.3 billion dollars, or nearly $ 1.62 billion recorded in the same period last year. However, Tesla says the company could have done better. In your opinion, these profits were “compressed” by the increase in the cost of raw materials as well as problems of increasing production at its factories in Germany and Texas.
Tesla remains committed to increasing deliveries
Tesla also points out concerns about the production of 4680 batteries in its Berlin Gigafactory. Recall that the production of these batteries has been suspended on the German site due to a significant delay on a crucial point: the “dry” coating of the electrodes. Finally, the automaker cited the strengthening of the dollar as another factor that weighed on its results.
Despite everything, the brand has maintained its determination to reach the target of + 50% growth in deliveries on average per year. However, the task promises to be difficult for 2022. To succeed, that would be necessary Tesla sells nearly 500,000 vehicles in Q4 of 2022. The producer assures that he intends to increase his production “as fast as possible”.
“Volatility in logistics and supply chain bottlenecks remain immediate challenges, although they are improving. ” Tesla says. But amid explosive borrowing rates, a slowing economy, the inability to obtain purchase aid in some countries (impossible to claim the ecological bonus in France for a Tesla), and starting prices that continue to rise with a Model 3 now proposed at $ 48,490, many analysts question Tesla’s ability to keep demand high.
Source: TechCrunch
