Tesla Revenue Growth by Year, Stream Breakdown

0
25
6491b83465b9ce0018a42aef.jpeg
6491b83465b9ce0018a42aef.jpeg
  • Tesla brought in $81.5 billion in revenue last year, putting it in 50th place on the Fortune 500.
  • The vast majority of its revenues come from sales of its EVs, like the Model Y.
  • But 17.5% of its revenues stemmed from activities like selling regulatory credits and energy products.

Tesla, the EV manufacturer led by tech mogul Elon Musk, has seen its revenues boom over the past decade as more customers turn to greener modes of transport.

The company doesn’t just make its money through EV sales, though – other streams of revenue include the sale of regulatory credits and energy generation and storage product.

Tesla’s quarterly revenues peaked at $24.3 billion

Tesla’s revenues have largely risen steadily over the past decade, peaking at $24.32 billion in the fourth quarter of 2022 before dipping slightly to $23.33 billion the next quarter, financial filings show.

The automaker brought in around $81.5 billion in total revenues in 2022, putting it in 50th place on the Fortune 500, which ranks US companies by revenue. Though Tesla’s 2022 revenues increased more than 50% from 2021, it still had only around half the revenues of Ford.

Tesla made $20.9 billion in gross profit in 2022, giving it a gross profit margin of 25.6%. It recorded its first full-year profit in 2020, a decade after going public.

Where do Tesla’s revenues come from?

Tesla gets its revenues from various streams. Though the vast majority come from sales of its vehicles and accompanying features like full self-driving upgrades, Tesla got around 17.5% of its 2022 revenues, or $14.3 billion, from other sources.

How much does Tesla make from selling cars?

Tesla made $67.2 billion from what it classes as automotive sales in 2022, which includes sales of its Model S, Model X, Semi, Model 3, and Model Y vehicles as well as access to its FSD features, internet connectivity, and over-the-air software updates.

Tesla prices vary massively by vehicle and specs – the Model Y, the cheapest, starts at $47,740 in the US, whereas its Model S Plaid and Model X Plaid both retail at a minimum of $108,490.

Revenues from this stream jumped 52% from 2021 to 2022, which Tesla attributed to increased production of the Model Y at its Shanghai and Fremont factories and the start of the vehicle’s production at its Tesla Gigafactory facilities in Berlin-Brandenburg and Texas, coupled with a higher average selling price. Production and average prices of the Model S and Model X vehicles also increased, Tesla said in its annual report.

The company said that it also got $324 million in revenues from expanding the Tesla FSD beta to all North American customers in November.

Where do the rest of Tesla’s revenues come from?

Tesla’s second-biggest revenue segment in 2022 was what it classes as “services and other revenue,” which brought in $6.1 billion, a 60% increase on 2021. This category includes non-warranty after-sales vehicle services and parts, paid Supercharging, sales of used vehicles, retail merchandise, and vehicle insurance.

Tesla recently announced it was opening up its EV charging network to Ford and GM, meaning that customers of both automakers would have access to around 12,000 Superchargers across North America. Wedbush Securities analyst Dan Ives estimated that these partnerships could generate an additional $3 billion for Tesla’s services revenues by 2025.

Another major source of revenue for Tesla is the sale of regulatory credits to other automotive manufacturers, which brought in $1.8 billion in revenues in 2022. Tesla earns tradable credits under regulations related to zero-emission vehicles, greenhouse gases, fuel economy, and clean fuel.

The company made $2.5 billion in 2022 from automotive leasing revenues, including direct-operating lease agreements in the US, Canada, and Europe. Tesla’s revenues from this stream increased 51% from 2021 to 2022.

In 2022, Tesla recorded $3.9 billion in revenues from its energy generation and storage segment, which includes sales and leasing of solar energy generation and energy storage products, like its Powerwall, Megapack, and Solar Roof.

Previous articleSimple Guide to Linux Backups with Déjà Dup
Next articleThe Game Boy that survived the Gulf War has been removed from Nintendo New York
Abraham
Expert tech and gaming writer, blending computer science expertise