Tesla business analysis –
Tesla company was founded in the year 2003 by Elon Musk, JB Straubel, Martin Eberhard, Marc Tarpenning, and Ian Wright, with a mission to create a safer ecosystem by creating eco-friendly electric vehicles and products. Tesla’s main products include electric cars and solar products manufactured and sold in their retail stores. At present Tesla has a market share of 64% in the united states.
Tesla continues to lead at the forefront due to its innovation and tech-enabled machines.
As per the counterpoint research global electric vehicles market share, Tesla has a share of 13% in Q3 2022. However, Tesla is losing its market share in the US compared to 2020 to 2022 in the electric vehicle space. Tesla failed its Q3 estimates by about 15,000 vehicles lesser than expected.
- Tesla’s revenue for the quarter ending December 31, 2022, was $24.318B, a 37.24% increase year-over-year.
- Tesla’s revenue for the twelve months ending December 31, 2022, was $81.462B, a 51.35% increase year-over-year.
- Tesla’s annual revenue for 2022 was $81.462B, a 51.35% increase from 2021.
- Tesla’s annual revenue for 2021 was $53.823B, a 70.67% increase from 2020.
- Tesla’s annual revenue for 2020 was $31.536B, a 28.31% increase from 2019.
Tesla is still dominating the EV market with huge growth on QtoQ and YtoY.
Tesla has 4 car models
- Model S
- Model 3
- Model X
- Model Y
- Electric Roadster: In 2008, Tesla launched its initial electric vehicle, the Roadster, which was based on a modified Lotus Elise sports car. Roadster was the first production electric car to have a range of over 200 miles on a single charge. The second version of Roaster was announced in 2017 and production will begin in 2023. The second version of Roadster will have a claimed mileage of 630 miles which would be the longest claimed eclectic vehicle. On top of that, the top speed will be 230 mph which makes it one of the fastest cars in the world.
- Model S: In 2012, Tesla launched its following electric car, the Model S, which was a luxury sedan. It quickly became one of the best-selling electric cars in the world with thousands of bookings.
- Gigafactory: In 2016, Tesla opened its first Gigafactory in Nevada. The massive facility is used to manufacture battery cells and packs for Tesla’s electric vehicles and energy storage systems.
- Model 3: In 2017, Tesla began production of its third electric car, the Model 3. The Model 3 is a more affordable vehicle compared to the Model S and X and has become Tesla’s best-selling car. It has sold more than 90,000 units until now.
- Solar energy: In 2016, Tesla acquired SolarCity, a company that specializes in solar panel installations. This allowed Tesla to expand into the solar energy market and offer integrated clean energy solutions for homes and businesses.
Tesla Swot analysis
With more than 50% of the electric vehicle market, Tesla remains the top player in the United States. In spite of this, Tesla faces a lot of challenges in the future due to supply chain issues and low consumer demand. Many orders were canceled because of his Twitter controversies about blaming republicans