comes the Cybertruck long awaited by Tesla, despite the useful I’m in a dive. Yes, Q1 2023 deliveries are record-breaking, but Tesla’s first three months of data should be read with ease. The futuristic house of Elon Musk closes January–March with revenues equal to $23.32 billion. So with an increase of 24% compared to the same period last year.
There are numerous cuts made on the cost of Tesla cars. Above all, the expectation is focused on the gross margin numbers. Officially Tesla declares that in the first quarter of 2023, achieved a gross margin of 19.3%in decline compared to 29,1% of the same period of 2022. A result also below the expectations of analysts who expected more than 22%. This result weighed, together with other factors, also on the profit.
So, theNet income (GAAP) is $2.513 billioni, equal to a decrease of 24% (non-GAAP $2.931 billion, a decrease of 21%). while, theearning per share (GAAP) was $0.73 per share (-23%). The useful for action (non-GAAP) was $0.85 per share (-21%). Operating margin decreased to 11.4% from 19.2%. Actually, for justify the decline in operating profitability, Tesla does not cite the effects of its pricing policy, but causes such as the underutilization of its factories, the higher costs of raw materials and logistics.
Tesla, profits dive in the first quarter, but the Cybertruck arrives. Word of Elon Musk, site source
Tesla, the words of Elon Musk
The CEO of Tesla, Elon Muskduring the press conference to present the data, explains: “We expect that i Prices of our products will continue to evolve, up or down, depending on a number of factors. While we implemented price reductions on many vehicle models across all regions in the first quarter, our operating margins have been shrinking at a manageable pace.”
Tesla, expectations are rising for the Cybertruck expected for the third quarter of 2023
And after a long dissertation on data. Elon Musk announces the arrival of Cybertruckcomplete with an effective explanation, typical of the CEO of Tesla. Dove confirms the production and its timing: “It takes time to get the production line up and running, and this is really a very radical product. It’s not made the way other cars are made. This is really a very radical product.
One thing I’m sure I can say is that this is an incredible product. She’s a Hall of Famer.”
Tesla, profits dive in the first quarter, but the Cybertruck arrives. Word of Elon Musk
Thus, Musk justifies the long lead times for the installation of the equipment which will be used to build the pickup which is well advanced. Currently, Elon Musk’s company stands building “Alpha” versions of his Cybertruck on a pilot line.
Not only that, Tesla also has shared a series of pictures showing the production line of its new and anticipated electric model. Elon Musk then pointed out that the construction of the series model of the pickup will start at a low volume and then grow progressively. While asked for updated specs, such as scope or unique features, Musk demurred, noting that those details will be revealed during the delivery event.