Tesla's performance in q3 2022

Tesla experienced significant improvement YoY in Q3 2022

Tesla is the world's largest automobile brand with a market cap of more than $700 billion. The automobile brand experienced solid improvement in its vehicle sales and net revenues in the third quarter of 2022 compared to the same quarter of the prior year. Tesla's vehicle production and deliveries also saw significant YoY improvement in the third quarter. Compared to the first two quarters of 2022 as well, there was significant improvement in the number of vehicles produced and delivered by Tesla. The automobile producer continues to expand its supercharger network with fast growth in its supercharger stations and number of supercharger connectors compared to last year. Tesla has experienced a YoY growth of 56% in its revenue during Q3 2022 driven mainly by higher vehicle sales.  

Tesla Vehicle Production and Deliveries

Tesla produced total 365,923 vehicle units in the third quarter of 2022, which was 54% higher than the same quarter of the last year when the company had produced 237,823 vehicle units. Compared to the previous quarter (Q2) of 2022, the company experienced 41.5% improvement in its vehicle production.

Tesla's production of Model S/X reached 19,935 units in the third quarter of 2022 or 123% higher compared to the same quarter of the prior year. In the third quarter of 2021, the company had produced 8,941 units of Model S/X.

Model 3/Y production reached 345,988 units in the third quarter of 2022 which was 51% higher compared to the same quarter in the prior year.  Tesla had produced 228,882 units of Model 3/Y in the third quarter of 2021. 

Tesla's total vehicle deliveries reached 343,830 units in the third quarter of 2022 or 42% higher compared to the same quarter of the prior year. It had delivered total 241,391 units in the third quarter of 2021. Vehicle deliveries improved by 35% in the third quarter of 2022 compared to the second quarter. 

The company delivered total 18,672 units of Model S/X, which was 101% higher compared to the same quarter of the prior year. Deliveries of model 3/Y reached 325,158 units in the third quarter of 2022 or 40% higher compared to the same quarter of the prior year.

Tesla Stores and Supercharger Network

The number of Tesla stores and service locations at the end of the third quarter of 2022 reached 728 compared to 630 at the end of the same quarter of the prior year. Its number of stores and service locations experienced grew by 16% in the third quarter of 2022 compared to Q3 2021.

Tesla has also continued to expand its mobile service fleet. The number of vehicles in its mobile service fleet at the end of Q3 2022 was 1,532 or 29% higher compared to the same quarter of last year.

The company is also investing in growing its supercharger network faster. At the end of the third quarter of 2022, the number of Tesla superchargers was 38,883 across 4,283 supercharger stations. Its number of superchargers has increased by 33% and that of supercharger stations by 32% in Q3 2022 compared to Q3 2021.

The following table shows the number of Tesla superchargers from Q3 2021 to q3 2022.

Tesla sales and revenue

Tesla's total revenue grew by 56% in Q3 2022 compared to the third quarter of the prior year. The automobile manufacturer generated $21,454 million in net revenue in the third quarter of 2022 or $7,697 million higher than the same quarter of the prior year. In the third quarter of 2021 the company generated $13,757 million in net revenue. The automotive segment accounts for the largest portion of the company's net revenue. During the third quarter of 2022, automotive revenues accounted for 87% of the company's total revenue for the quarter. Tesla's net income in Q3 2022 remained just double of its net income in the same quarter last year. Its net income in the third quarter of 2022 was $3,331 million compared to $1,659 million in Q3 2021. Its total gross profit for the third quarter of 2022 reached $5.4 billion compared to $3.7 billion in the same period last year.

Tesla Automobile Sales and Revenues

Tesla experienced more than 50% growth in its net revenue and automobile sales during the third quarter of 2022 compared to the same period last year. Its automotive sales increased by $6.4 billion or 56% in the third quarter of 2022 compared to the same quarter of the prior year. Tesla generated total $17,785 million in revenues from automotive sales in the third quarter of 2022. In the third quarter of 2021, its revenue from automotive sales was $11,393 million. However, its total automotive revenues including regulatory credits and the revenue from automotive leasing grew by $6.6 billion or 55% in the third quarter of 2022 compared to the same quarter of the last year.

Tesla's total automotive revenues grew to $18,692 million in Q3 2022 compared to $12,057 million in the third quarter of 2021. During the first and second quarters of 2022 the company had generated $16,861 million and $14,602 million respectively in the form of automotive revenues. Over the first three quarters of 2022, its total automotive revenue has increased by 60% compared to the same period in the last year. Tesla generated $50,155 million in automotive revenues over the first three quarters of 2022 compared to $31,265 million in the first three quarters of 2021.

Tesla Revenue from Energy Generation and Services

Tesla's revenue from energy generation and storage segment grew by 39% in the third quarter of 2022 compared to the same period in 2021. Revenue from energy generation and storage segment remained $1,117 million in Q3 2022 compared to $806 million in Q3 2021. The company also experienced solid growth in its revenue from services and other segment. Its services and other revenue increased by 84% in Q3 2022 compared to the third quarter of 2021. The company generated $1,645 million in the third quarter of 2022 from services or $751 million higher than the same period of the last year.