According to Tesla Weibo on February 1st, any model of Model 3/Y/S/X can be ordered and delivered by the end of March, with an annual fee rate starting at 2.5%. Orders for the designated version of Model Y will enjoy a cash discount of 8000 yuan. Orders placed in February and vehicles picked up in March are eligible for a discount of 2000 yuan on M3 and MY full-color car paint.
Tesla Official Weibo
According to Tesla's official WeChat account, on February 1st, Tesla officially announced an upgrade to the Model Y. Visually, a new exclusive color for Model Y, "Fast Silver Car Paint," has been added, and Flame Red has been used instead of Chinese Red and Starry Sky Grey instead of Cool Silver; In terms of performance, the Model Y is equipped with a new generation of autonomous driving assistance hardware (HW4.0) across the entire range. By equipped with ultra long range binocular cameras, the Model Y has a maximum detection range of 424 meters. As a result, all Tesla models are equipped with automatic driving assistance hardware HW4.0.
In terms of price, Tesla China's official website shows that the Model Y model still maintains its original price. The Model Y rear wheel drive version starts at 258900 yuan, the Model Y long endurance version starts at 299900 yuan, and the Model Y high-performance version starts at 363900 yuan.
On January 25th, Tesla released its 2023 financial report, which showed that Tesla's total revenue for the year reached $96.773 billion, a year-on-year increase of 18.79%; The net profit attributable to common shareholders was 14.997 billion US dollars, a year-on-year increase of 19%; The net profit attributable to common shareholders under non GAAP was $10.882 billion, a decrease of 23% year-on-year, while Tesla also experienced its first annual profit decline since 2017.
The significant increase in total revenue in 2023 is mainly due to Tesla's rapid increase in new car deliveries worldwide. Official data shows that in 2023, Tesla delivered a total of 1.81 million new cars globally, a year-on-year increase of 38%, achieving its annual delivery target.
Tesla CEO Elon Musk stated during the 2023 earnings conference call that the sustained growth in revenue exceeded market expectations and provided strong support for Tesla's research and development investment, product strength improvement, and corporate operations in the new year.
According to the financial report, Tesla's R&D expenses for the entire year of 2023 reached a historic high of 3.969 billion US dollars (equivalent to approximately 28.39 billion Chinese yuan). "The data fully proves that Tesla continues to invest its main energy and resources in the most core research and development, continuously improving its product's hardcore strength," Tesla said.
However, based on the performance in the fourth quarter of 2023, Tesla's performance was not ideal. According to the financial report, Tesla's total revenue in the fourth quarter of 2023 was $25.17 billion, lower than the previous analyst's estimate of $25.87 billion; The net profit was 7.928 billion US dollars, a year-on-year increase of 115%; Adjusted earnings per share for the fourth quarter were $0.71, lower than analyst expectations of $0.73.
Moreover, Tesla's gross profit margin continued to decline in the fourth quarter of 2023, dropping from 17.9% in the third quarter to 17.6%, a decrease of over 6.2 percentage points from 23.8% in the same period in 2022, lower than market expectations of 18.3%. In 2023, Tesla's gross profit margin was 18.2%, a decrease of 7.35 percentage points compared to 2022. "The decrease in gross profit margin is mainly affected by the decrease in the average selling price of vehicles," Tesla explained.
Goldman Sachs analysts believe that the main adverse factors faced by Tesla include a larger than expected decline in car prices, increased competition in electric vehicles, and delays in products and functions such as FSD and third-generation platforms. Therefore, although the company has long-term growth potential, it faces significant risks in the short term.
Morgan Stanley also stated that the imbalance between supply and demand of electric vehicles may bring pressure to Tesla this year. "In the coming year, the demand for electric vehicles is bound to slow down. Tesla will have to choose whether to continue cutting car prices to maintain competitiveness or to maintain price stability in 2024," said an analyst at well-known US investment bank Wedbush.
As of the close of January 31st local time, Tesla was trading at $187.29, a decrease of 2.24%, with a market value of $596.48 billion.
Daily Economic News: Comprehensive Tesla official Weibo, Tesla official WeChat, Daily Economic News (Reporter Li Xing), and publicly available market information
Disclaimer: The content and data in this article are for reference only and do not constitute investment advice. Please verify before use. Based on this operation, the risk is borne by oneself.
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