June of 2022 was the highest vehicle production month (estimated at 120,000 total) in the company's history. Tesla produced over 258,000 vehicles and delivered over 254,000 cars during the second quarter of 2022. As outlined above, the company delivered almost one million electric vehicles in 2021, and it projects to reach 1.5 million cars delivered in 2022. The majority of Tesla’s revenue comes from automotive sales. You may associate Tesla only with electric vehicles, but the company has multiple revenue streams boosting its profitability. Tesla business linesĭuring the 2022 second-quarter earnings report, Tesla announced that total revenue was up 42% YoY to $16.9 billion due to growth in vehicle deliveries, an increased average selling price and growth in other aspects of the business. Tesla ended 2021 with a net income of $5.51 billion (a 665% increase from 2020). Tesla then took profitability to the next level when it announced a $1.19 billion profit in the second quarter of 2021 (with $354 million coming from credit sales). ![]() However, an expansion into China led to a $5.51 billion profit on automobile sales while delivering 936,172 cars in 2021, up from 499,550 vehicles in 2020. This was a huge swing into profitability compared to the previous year’s loss of $862 million in 2019.Īround this time in 2021, many experts wondered if Tesla could still turn a profit solely from automobile sales instead of relying on emission credits. Tesla turned its first full-year profit in 2020 when it brought in $31.5 billion in revenue (only $1.58 billion coming from regulatory credit payments from other automakers) and a net income of $721 million. The company spent loads of cash ramping up production, and it struggled with manufacturing problems. According to the Q2 earnings report, the Berlin factory produced 1,000 vehicles in one week, a significant milestone for Tesla. Tesla also recently announced that new factories in Berlin and Austin could finally ramp up production. It’s worth noting that in 2020 the company was able to increase sales in Europe and China while adding a fourth vehicle to production, the Model Y. Critics are quick to point out that these competing automakers will eventually figure out how to create electric vehicles without the support of Tesla's regulatory credits. Tesla then turns around and sells these credits to other automakers in the field, like General Motors GM for instance. Since Tesla manufacturers electric vehicles, it receives carbon credits from various clean energy government incentives. ![]() What really kept Tesla afloat were emissions credits, namely the sale of these credits.
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