Tesla doubles its profits in the second quarter of 2022

Everyone expected that after seeing the latest sales and production records, Tesla would suffer a small break in profits after years with positive numbers, but nothing could be further from the truth. The Austinites have done more with less, proving that they make ample profit margins on every unit sold. At the end of the second quarter of 2022, Tesla doubles profits compared to the same period of the previous yeara course that was excellent for the coffers of Elon Musk’s company.

The start of the year has not been easy for Tesla. The situation in Europe and the health problems in China forced the closure of the Shanghai Gigafactory for a few weeks. The Asian plant produces the most cars, and a several-day stoppage wreaked havoc on quarterly delivery and production figures. 15.3% fewer units produced and a total of 254,695 units delivered in the last quarter. Somewhat lower figures, but positive after all.

In Tesla they trust to be able to continue with the streak accumulated in recent years despite the setbacks in the market. The goal is to exceed one million units delivered throughout the last quarter of the course, something that seems feasible despite the global economic outlook. During these months, Tesla has been increasing the price of its cars in the face of rising prices for raw materials, transportation and energy. That strategy has not only allowed it to maintain profit margins, but it has also expanded them in the second quarter.

The temporary closure of the Shanghai Gigafactory has affected the balance of results for the second quarter

With a positive final result of 2,300 million dollars, it represents an increase of 98% with respect to the same period of the previous year. Despite the good number, it represents earnings lower than those of the first quarter, which reached a record of 3,300 million dollars. The bulk of sales are focused on the Tesla Model 3 and the Tesla Model Y, the combined sum of sales represents almost 94% of the total, while the company’s most expensive models continue to see a clear slowdown in sales. Elon Musk is not worried about this, since the two best-selling models are able to almost completely support the structure of the company.

Within the quarterly results report, surprising news about Tesla’s investment in Bitcoin should be highlighted. Throughout the last quarter the American company has gotten rid of 75% of cryptocurrencies, which has meant a positive balance in the general balance of 936 million dollars. For years Tesla has been pouring vast amounts of money into Bitcoin, fueling vehicle payments using the cryptocurrency.

If we move to Spain, the Tesla division continues to reap excellent performance data. A report published a few days ago highlighted a net profit of 1.73 million euros at the end of 2021, an increase of 75.2% compared to the previous year. The total turnover was more than 155 million euros, which allows us to estimate a profit of around 542 euros per registered vehicle. It is expected that for this year the final figures will be even better, although with reduced spirits taking into account the two-week break in the Brandenburg Gigafactory.

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