Nothing is as real as the direct price cut.
Editor’s note: This article is from WeChat public account “public reference” (ID :gongkaicankao), author Li Dan, Editor Du Boqi, is authorized to publish.
In the early hours of the morning, after the US stock market, Tesla’s earnings report rose, and the stock price soared by 20%, almost smearing this year’s decline.
Tesla is a big loser. Just when everyone thought it would continue to lose money, it actually made money. In the third quarter of this year, it produced 96,000 electric vehicles, sold 97,000 vehicles, and earned 143 million US dollars, about 10 billion yuan. .
It is not difficult to find that by dividing the net profit by the sales volume and selling an electric car, Tesla can earn about 10,000 yuan.
Tesla made a profit for the first time this year, which gave the boss Musk a strong boost. He was happy to go to Weibo to launch a funny picture and a thank-you letter.
Profitted profits
Tesla’s performance is fluctuating. In the second half of last year, it made a profit for two consecutive quarters and immediately fell into a loss. This is Tesla’s first quarterly profit this year, with profits down 54% from the same period last year. I don’t know if this profit will last until next year.
At the same time, CEO Masca announced that the Shanghai plant has begun trial production. ModelY’s production will accelerate from next fall to next summer. Musk has made a big bet in China. He hopes that the low cost of the Chinese factory will help Tesla achieve stable mass production and continue to make profits.
Before this, Tesla’s low production restricted its development. In 2018, Tesla’s production was 350,000. In 2019, its production target was 360,000 units, with an increase of only 10,000 units. In the first three quarters of this year, Tesla’s production exceeded 260,000 units, and there are still about 100,000 vehicles away from the annual target. However, the Shanghai Super Factory has been completed and Tesla is expected to achieve its goals ahead of schedule.
Mask’s Haikou is half realized in Shanghai
Tesla CEO Musk gives the impression on social media that it is unobtrusive. Last year, he announced on the Internet that he hoped to privatize Tesla and announced some details. To this end, he was warned by the board of directors not to scream on social media.
His words cannot be fully believed, but they cannot be completely unbelievable.
Muske said that when he wants to invest $9 billion to build a factory in Shanghai, there are still people who question Tesla’s losses and where the money to build the factory comes from.
The result was that the Shanghai factory was built with lightning. It took only 10 months from the start of construction to the acceptance of the inspection, which made Musk amazed.
Tesla Shanghai Super Factory Interior, Source: Earnings
Tesla’s Shanghai Super Factory has several advantages: First, low cost, saving about 65% of the cost (per unit capacity), and second, the planned output of Bitsra’s US factory is high, the highest annual output. Up to 500,000 vehicles.
Tesla is a star foreign company in Shanghai. The local government made an exception to allow Tesla to hold 100% of the shares and even provide land. Previously, Tesla was excluded from government subsidies. From August 30 this year, purchases of Tesla models can enjoy the purchase tax reduction.
Tesla has disclosed that in the first half of this year, Tesla’s total sales in China was approximately 1.469 billion US dollars, equivalent to RMB 10.125 billion, an increase of 41.8%. China has become Tesla’s second largest market in the world.
Do Tesla cut prices in China?
The importance of China to Tesla is not necessary. Musk opened a Weibo account and sent a bilingual news to the middle of the day.Fans of the country look. This time Tesla also publicly announced in the financial report that China may become the largest market for Model3.
Tesla also settled in the fast hand and vibrato, playing a short video, it seems to be grounded, but you can find out that the video content it publishes is mostly foreign scenes, rough production, its quick account There are only 3,000 fans, and the number of fans is only a hundred thousand.
The promotion is not keeping up, and the price of domestically produced cars is not much cheaper.
In June, Tesla began pre-selling domestically produced Model3 in China at a price of 328,000 yuan. After the mass production at the end of the Shanghai plant, it will begin to be gradually delivered. Compared with the price of the imported Model3 with a minimum of 363,900 yuan, the price of the domestic Model3 is not much surprise.
The public reference reporter believes that next year, Tesla will need to sell Model3 at a reduced price.
After all, new energy vehicles are getting harder to sell. Due to subsidies, the sales of new energy vehicles in China have declined for the third consecutive month from July to September this year, with a decline of 4.7%, 15.8%, and 34.2%, expanding month by month. According to data from the China Association of Automobile Manufacturers, China sold 872,000 new energy vehicles from January to September this year. The world’s first sales volume of nearly 1.3 million vehicles last year has become history.
When the plate is small, will the cake that Tesla can get smaller?
It is reported that in the first half of this year, Tesla has a brand number of 21,800 in mainland China, including 16,300 Model3 models. If the Shanghai Super Factory, as Musk said, produces 150,000 vehicles or even 500,000 vehicles a year, can you sell so many cars without cutting prices?
According to the agreement signed by Tesla and related departments last year, Tesla will pay an annual tax of 2.23 billion yuan from the end of 2023, otherwise the factory land must be returned.
China gave Tesla four years. Tesla’s four-year exam is about to begin.