Global Delivery Overview
In Q3 2022, Tesla delivered a total of 343,830 vehicles globally, representing a YoY growth of 42% compared to the 241,300 delivered in Q3 2021, and a MoM growth of 35% compared to the 254,695 delivered in Q2 2022.
Delivery Overview in China
“Strategic penetration rate” refers to the proportion of new Teslas to total car sales in China (solid line represents real data, dashed line represents model data).
Tesla’s driving effect on gaining market share from gas vehicles has been weaker than last year, with a hovering rate of around 4%. This is mainly due to the relatively high price levels of new energy vehicles since this year, especially BEV pure electric models, which have suppressed demand. The penetration rate of new energy vehicles has remained at around 27% for the past six months.
“Tactical penetration rate” refers to the proportion of new Teslas to total sales of new energy vehicles (NEV) in China.
This is largely due to the impact of new brands releasing competitive models and vying for market share.
Global Production Update
The dark bars represent actual data, while the light bars represent model data.
Tesla’s global production performance in Q3 2022 was good. The Shanghai Gigafactory completed line upgrades and increased production to an annualized target of nearly 1.2 million units, while the Texas and Berlin Gigafactories are still struggling and may be slower in increasing production than the Shanghai Gigafactory due to higher local production costs. Tesla can slow down the increase in production speed of these two Gigafactories by focusing resources on reducing costs and improving efficiency.
Updating the unofficial annual production capacity expectation: Fremont Factory 540,000, Shanghai Gigafactory 780,000, Texas Gigafactory and Berlin Gigafactory each 60,000, for a total of 1.45 million units (a 10% decrease from the expected production capacity in Q2).
The Q3 2022 financial report will be issued following the quarterly earnings report on October 19th.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.