Sector: Consumer Discretionary|Industry: Auto Manufacturers|Market Cap: $1.13T|Employees: 140.5K
Tesla designs, develops, manufactures, sells, and leases high-performance electric vehicles, along with energy generation and storage systems. Tesla sells its products directly to consumers through a network of showrooms, service centers, and charging stations, and emphasizes performance, safety, and technological innovation, including autonomous driving capabilities.
Tesla reported total revenue of $96.77 billion in 2023, a 19% increase compared to 2022. Net income attributable to common stockholders reached $15.00 billion, a significant improvement over the $12.56 billion in 2022.
Automotive sales, including sales of electric vehicles and regulatory credits, increased by 15% to $82.42 billion in 2023. This growth was primarily driven by a substantial increase in Model 3 and Model Y deliveries.
Despite record revenue, Tesla's overall gross margin decreased from 25.6% in 2022 to 18.2% in 2023. This decline was attributed to price reductions implemented to stimulate demand and maintain competitiveness.