Sales: Tesla Sends Sales Surging
This page is translated from the original post "Ventes : Tesla affole les compteurs" in French.
- 20/04/2023 10:42
The American manufacturer Tesla has just announced record sales figures for the first quarter of 2023.
Elon Musk, the flamboyant head of Tesla, announced at the launch of his Model Y that it would become the best-selling car in the world. Considered mere boastfulness at the time, this ambition is now proven to be a accurate forecast since, with 65,500 units sold, the Tesla Model Y is the most popular model in Europe in the first quarter of 2023, ahead of the Dacia Sandero (58,000) and the Volkswagen T-Roc (53,500).
Tesla reports worldwide deliveries of 422,000 cars out of a production of 440,000, primarily Model 3/Y. Revenue is up 24%, surpassing $23 billion despite the extreme price cuts, but net profit drops by 24% to $2.5 billion.
But behind these astonishing figures lies a more troubling economic reality. Tesla announced on Wednesday a gross margin of 19% for the first quarter, the lowest for the company in three years, below analysts’ expectations of 22%. This is a logical consequence of the company’s aggressive strategy, particularly price cuts, aimed at fending off fierce competition amid an economic slowdown.
Musk fully embraces this price war, which allows his company to maintain a profitability that many global players envy.
Elon Musk now points to the future of his company with the launch of the Cybertruck, currently in the final development stage at the new Giga Austin plant in Texas (USA). The summer is expected to be focused on this astonishing and, to say the least, innovative vehicle to help Musk reach his goal of producing 1.8 million vehicles.
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