According to Counterpoint Research data,Tesla’s delivery volume in the fourth quarter of 2023 surged 20% year-on-year, but its automotive business revenue only increased slightly by 1% year-on-year., amounting to approximately US$21.5 billion. The main reason restricting Tesla's revenue growth isThe average sales price of Model Y and Model 3 fell in China and the United States.
It is understood that Tesla has boosted sales through multiple price cuts in 2023. As a result, vehicle deliveries for the year have increased significantly by 38% year-on-year, but revenue has only increased by 19%.
Its fourth-quarter gross margin was only 17.6%, the lowest level since 2019.
Analysts believe that as cost reductions in Tesla's current product line approach the limit, the company's delivery growth rate in 2024 may not be as high as the 30% or 40% in previous years.
Tesla will launch a compact model priced under $25,000 (approximately RMB 180,000) in 2025, which is expected to increase the company's delivery growth rate.
In December last year, Musk said in an interview that Tesla's low-cost electric car project has made significant progress and that the car will be produced at a very high volume.
Musk believes that the manufacturing revolution this car represents will be astounding.