Tesla increased its Q1 2022 revenue to $18.76 billion (€17.29 billion) compared to the same quarter last year of $10.39 billion. This represents a growth of 81 percent. It also increased Tesla’s revenue by $1.06 billion compared to $17.72 billion in the fourth quarter of 2021.
Of this, $16.86 billion came from the sale of 310,048 electric cars, and $678 million came from CO2 allowances.
Gross profit for the quarter was a whopping $5.54 billion, net profit at $3.3 billion, and the profit margin to an astonishing 32.9 percent. Tesla is thus on track to triple last year’s $5.5 billion profit in 2022. See my analysis and forecast on this from January 2022.
The profit margin is a result of saving money through innovation in many places, like using the gigapress in the body shop. Here’s a comparison of what the Tesla Model Y body looks like so far, and what parts are coming in now in Austin (and I assume Berlin).
On the left side, you can see 171 parts marked in color, and on the right side, two parts that replace these 171 parts. This also means that there are more than 1,600 fewer welds. This means less machine use, less labor for assembly, and therefore less time.
This article was also posted in German.