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Volkswagen:Quarterly Results/2023 Q1: Difference between revisions
Volkswagen:Quarterly Results/2023 Q1 (view source)
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== Competitor Results == | == Competitor Results == | ||
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Tesla's net income declined by 24% year-on-year due to higher raw material, commodity, logistics and warranty costs, as well as lower revenue from environmental credits. Its automotive revenue rose by 18% year-on-year to $19.96 billion<ref name=":0">https://www.cnbc.com/2023/04/19/tesla-tsla-earnings-q1-2023.html</ref>. | |||
During the earnings call, Elon Musk said that he expects 12 months of "stormy weather" in the economy and that " provided there are no major geopolitical wildcards that show up, that things start getting sunny around spring next year."<ref name=":1">https://seekingalpha.com/article/4595114-tesla-inc-tsla-q1-2023-earnings-call-transcript</ref> | |||
He also pointed out that “Every time that the Fed raises interest rates, that’s the equivalent to an increase in the price of a car.” Musk also said that "whenever there is uncertainty in the economy, people will generally postpone new -- big, new capital purchases like a new car."<ref name=":1" /> | |||
On Tesla's marketing strategy, Musk said “We’ve taken a view that pushing for higher volumes and a larger fleet is the right choice here, versus a lower volume and higher margin.” <ref name=":1" />This is proven by its decision to cut prices for some of its Model Y and Model 3 electric vehicles in the U.S for the sixt time on Tuesday. Model Y “long range” and “performance” and Model 3 “rear-wheel drive” prices were cut by $3,000 and $2,000, respectively on Tuesday<ref>https://www.cnbc.com/2023/04/19/tesla-cuts-us-prices-for-sixth-time-this-year-ahead-of-q1-results.html</ref>. He believes that over time Tesla will be able to generate more margin through autonomy. | |||
{| class="wikitable" | |||
|+ | |||
!Key Items<ref name=":0" /> | |||
!Q1 2023 | |||
!Analysts expectations | |||
!Y/Y Growth | |||
|- | |||
|Revenue | |||
|$23.33 billion | |||
|$23.21 billion | |||
| +24% | |||
|- | |||
|Net Income | |||
|$2.51 billion | |||
| | |||
| -24% | |||
|- | |||
|EPS | |||
|$85 cents per share | |||
|$85 cents per share | |||
| | |||
|- | |||
|Automotive Revenue | |||
|$19.96 billion | |||
| | |||
| +18% | |||
|} | |||