Tesla Earnings Call on 24.01.24 - All important information at a glanc

On January 24, 2024, Tesla published its eagerly awaited financial results for the fourth quarter and financial year 2023 as well as an outlook for the current and coming year in its earnings call. Despite some challenges, the figures were once again impressive and confirm Tesla's position as the industry leader in the field of electromobility.

In the fourth quarter of 2023, Tesla was able to maintain significant profitability despite adverse circumstances such as the decline in the average selling price and the cost of ramping up the Cybertruck. Revenue amounted to an impressive 25.17 billion US dollars with an operating margin of 8.2 percent. The financial figures for the full year 2023 are also positive. With a turnover of 97 billion US dollars and a cash balance of 29 billion US dollars, which is partly due to the success of the Model Y with 1.2 million vehicles sold, Tesla has set new standards. Elon Musk emphasized that Tesla is currently between two growth cycles and has numerous projects in the pipeline. Important milestones are planned for 2025, including the start of production of the Cybertruck, the market launch of the next-generation vehicle and the start of production of the "Optimus" robot.

Q4 & Full Year 2023 Shareholder Update → https://t.co/sXBSeLibSL
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Highlights

Our global production reached a record level in Q4, achieving a nearly 2 million annualized run rate

At Giga Texas, we delivered the first Cybertrucks to customers, with production & deliveries... pic.twitter.com/hMXmY5CIxp
- Tesla (@Tesla) January 24, 2024

Elon Musk did not give any precise information on the current number of pre-orders for the new Tesla Cybertruck, only that production of the Cybertruck for 2024 is already fully booked. This underlines the high demand for Tesla's innovative pickup truck, which is already causing a sensation even before its official market launch.

Another highlight was the availability of the Full Self-Driving (FSD) Beta Version V12 for the first selected vehicles in North America. The new software will soon be available in stages for up to 400,000 Teslas and represents an important step towards autonomous driving. Elon Musk also mentioned the future introduction of Hardware 5, which will offer even more advanced components in the future.

An interesting look into the future of Tesla is the next-generation vehicle that will benefit from the Cybertruck's findings. Elon Musk has announced that it will be offered at an unbeatable price despite possibly slightly lower margins. Production is to take place in three Gigafactories: Austin, Texas, the future Gigafactory in Mexico and a third, as yet undetermined factory. Regarding the 4680 battery cell, Musk revealed that although production is still at a standstill, there is already a production and assembly line. Four more lines are to be added by the end of 2024 to meet demand.

Another area that was highlighted in Tesla's earnings call is the company's energy sector. Compared to 2022, Tesla was able to impressively increase its production capacity from 6.5 GWh to 15 GWh in 2023.

Overall, Tesla's earnings call shows that the company is not only financially successful, but also continues to be at the forefront of innovation. The coming years promise exciting developments, from the introduction of new vehicles to the continuous improvement of autonomous driving functions and expansion in the energy sector.