target 2 million sales per year – Corriere.it

Tesla aims to sell up to 2 million auto sales a year now that it has heavily slashed the prices of its fleet to broaden its customer base. Elon Musk talked about it in the video conference with financial analysts to discuss the results of the company of which he is CEO, owner and founder. In the first weeks of 2023, Tesla has tried to stimulate demand by cutting the prices of its vehicles, in some cases by almost 20% and aspires to sell 20 million vehicles a year by 2030. To achieve this he will need about a dozen implants, according to Musk. The company said it would invest more than $3.6 billion in the expansion of its Reno, Nevada plant, which includes funds for two new factories where Tesla plans to make the battery cells and the trucks it plans to haul. on the market in December; the automaker then filed papers to expand its manufacturing area in Austin, Texas. Then, Tesla has a plant in Fremont, California, and gigafactories in New York and Shanghai.

Orders boom in January

With all this series of measures and projects, the owner and founder of Tesla Elon Musk has tried to allay investors’ concerns that demand is declining. “The most common question we receive is about the demand for our cars, so I want to put that concern to rest. So far in January, we have seen the strongest year-to-date orders in our history. We are currently having orders at nearly double the production rate. We think demand will be good despite probably a contraction in the auto market as a whole. I think -he continued- that there are a large number of people who want to buy a Tesla car but can’t afford it. And so these price changes really make a difference to the average consumer».

The Twitter case

When asked what damage his controversial political outings on Twitter are doing to Tesla’s image, the billionaire said they are not only not hurting the company but they are making it grow and noted that he has 127 million followers on the social network network. “It’s still growing, quite rapidly. Which suggests I’m reasonably popular. I may not be popular to some, but for the vast majority, my account following speaks for itself.” But the facts at the moment belie Elon Musk: Twitter’s advertising revenue has dropped by about 71%.

Results beyond estimates

Meanwhile, Tesla’s accounts are booming, with revenues and profits growing at double-digit rates in the fourth quarter. The electric carmaker reported profits of nearly $3.7 billion, up 59% from a year earlier but slightly below estimates of $3.8 billion. Adjusted earnings per share were $1.19, versus $1.13 consensus consensus, on revenues of $24.32 billion, ahead of $24.16 billion expectations and up 37% from expectations. a year earlier. In the same quarter of 2021, it had revenues of $17.72 billion and adjusted earnings per share of $2.52. Automotive revenues were $21.3 billion, up 33% from a year earlier. The gross margin in the automotive sector was 25.9%, the lowest in the last five quarters. In the quarter ended December 31, Tesla delivered 405,278 vehicles and produced 439,701. In the full year of 2022, approximately 1.31 million vehicles were delivered, a record for Tesla, thanks to the start of production at its new factories in Austin, Texas (US), and Brandenburg, Germany.

The losses of 2021

In the after-hours, immediately after the publication of the quarterly report, Tesla’s stock was little moved, after closing Wednesday’s session up 0.38%. Wall Street’s faith in Tesla has been dented in the past year, as the electric car company faces declining brand popularity, increased competition and rising interest rates. In 2022, Tesla fell short of its growth target, lost approximately $675 billion in market capitalization and saw its stock price fall 65%, the largest annual decline in its history.