Tesla’s revenue grew by 47%; Elon Musk: This is a historic achievement

In its Q2 2023 financial report, Tesla reported $3.1 billion in net income and $24.9 billion in revenue. Tesla’s revenue has grown by 47% compared to the second quarter of 2022 ($16.9 billion).

According to VergeTesla’s gross profit margin fell to 18.2 percent for the second quarter in a row. This shows that Tesla’s action to reduce car prices has ultimately led to a drop in the company’s profitability.

Tesla’s gross profit margin in the second quarter of 2023 faced a seasonal decline of 5.6% and an annual decline of 27%.

Tesla shareholders are upset about the company’s declining gross profit margin, even though the company posted a new record and delivered 466,140 vehicles in the most recent quarter. In the second quarter of 2022, Tesla delivered about 83% fewer cars to customers.

Despite the dissatisfaction of the shareholders, Tesla customers are very happy because of the drop in the price of the company’s cars. A large number of Tesla cars are sold as soon as they are produced. At the beginning of this year, Tesla Model Y became the first electric car in history to win the title of the best-selling car in the world.

Elon MuskCEO of Tesla, in the company’s new financial conference, which was held this morning Iran time, said that Tesla’s statistics in the last quarter were “historic”. He also said that probably due to the closure of some factories to upgrade equipment, the volume of production will decrease in the third quarter of 2023.

Tesla has recently increased the volume of production of its cars in Austin, Texas. This factory also produces the Cybertruck news car. A few days ago, the first Cybertruck vehicle left the production line.

In recent months, Tesla has activated its car charging system for cars of other brands, and now owners of Ford, General Motors, Rivian, Mercedes-Benz, and Volvo electric cars can also charge their cars with Tesla chargers.

Elon Musk said at the conference this morning that the length of the Cybertruck is less than 19 feet (5.79 meters) and this car will fit in a 20-foot (6 meters) garage. According to Elon Musk, Tesla’s self-driving system will “perform better than humans” by the end of this year.