About this weblog

What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Monday, April 3, 2023

Signs of Slowdown for Tesla

Tesla reported that it produced 440,000 vehicles and delivered 422,000 vehicles in the first quarter of 2023.  In the fourth quarter of 2022, it produced 439,000 vehicles and delivered 405,000 vehicles. That represents a marked slowdown from 2022, when vehicle deliveries grew 40% to 1.31 million.

In 2022, total revenue grew 51% year-on-year to 81.5 billion US dollars.  Tesla said in January that it had released its Full Self Driving beta software to the 400,000 customers who had bought it.  Tesla is hopeful that the successful deployment of self-driving systems will dramatically increase the value of its vehicles to buyers.

There are also signs that the energy storage business is beginning to come of age - deployments increased by 152% year-on-year, for a total deployment of 6.5 GWh in 2022. Tesla said demand for its storage products remains in excess of its ability to supply. It is ramping up production at its dedicated 40 GWh Megapack factory in Lathrop, California.

The solar panel capacity installed by Tesla in 2022 increased by just 1% to 348 MW. 

Sources: Tesla collateral

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