San Francisco | Elon Musk’s Tesla will make more money in 2022 than ever before. Tesla’s total revenue rose 51 percent to $81.5 billion, and net income more than doubled to $12.6 billion. The company beat Wall Street’s revenue estimates for the fourth quarter of 2022, reporting $24.3 billion in revenue, up 37 percent from the same quarter last year, and generating $3.7 billion in net income.
As we move into 2023, we know there are questions about the near-term impact of the uncertain macroeconomic environment, and especially rising interest rates, the company said.
In the near term, we are accelerating our cost reduction roadmap and focussing on the next phase of our roadmap towards higher production rates.
Tesla said it is prepared for short-term uncertainty, while focusing on the long-term potential of autonomy, electrification and energy solutions.
Tesla said it delivered 405,278 vehicles to customers in the October-December quarter and 1.3 million vehicles for the whole of 2022.
Due to continuous cost control and cost innovation, we believe that no one else is better prepared for 2023 than us.
The Model Y production line in Austin, Texas, produced more than 3,000 vehicles a week at the end of the fourth quarter.
The production and distribution challenges in 2022 were largely concentrated in China and, as our Shanghai factory has been operating successfully at near full capacity for several months, we do not expect meaningful sequential volume growth in the near term, the company said.
The Model Y production line in Germany produced more than 3,000 vehicles a week at the end of the fourth quarter.
Tesla said, “We have now released the FSD beta to almost all customers who purchased the FSD (about 400,000) in the US and Canada.” It is very important for our company.
–IANS
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