Tesla announced its balance sheet for the first quarter of 2023. Consequently, the company’s revenue increased 24 percent in the first quarter of the year compared to the same period last year, reaching $23.3 billion. Tesla had revenue of $18.8 billion in the first quarter of 2022, and the company’s revenue broke a record with $24.3 billion in the latest quarter.

The electric car maker’s net profit, on the other hand, was down 24 percent in the first quarter of the year compared with the same period last year, to $2.5 billion. Tesla’s net profit was $3.3 billion in the same period last year and rose to a record $3.7 billion in the latest quarter.

The company’s earnings per share, which was $1.07 in the first quarter of 2022, decreased to $0.73 in the same period this year.

INCREASED PRODUCTION AND DELIVERY

Tesla delivered 422,875 vehicles globally in the first quarter of 2023, while producing 440,808 cars.

In this period, the company’s vehicle production increased by 44 percent annually and the number of vehicles delivered increased by 36 percent.

COSTS ARE EXPECTED TO LOWER

In the statement made by Tesla, it was noted that this year is seen as an opportunity for the company in the current macroeconomic environment, noting that Tesla aims to strengthen its “cost leader” position as many automakers face the challenges of Electric Vehicle Programs.

Emphasizing that the company is focused on increasing production, vehicle software and growth investments, it was stated that product prices are expected to continue to develop up or down depending on a number of factors.

In the statement, it was noted that while price cuts were applied to many vehicle models across all regions in the first quarter, there was a manageable decline in operating margins and the company expects the cost of cars to continue to decline with efficiency. production and lower logistics. costs

Emphasizing that Tesla continues to implement its product roadmap, including its Cybertruck next-generation vehicle platform, autonomous products, and other AI-enabled products, it was stated that the balance sheet and net income ensure that they continue to make these expenses of capital in line with future growth. (AA)