I’m not pretending anymore, I’m revealing the truth! Musk claims that Tesla is the car company with the highest profit margin worldwide

Musk claims Tesla has the highest profit margin among car companies worldwide

【PhoneAuto News】Recently, according to PhoneAuto, Musk publicly stated at Tesla’s shareholder meeting that Tesla is the world’s largest electric vehicle manufacturer, and also the most profitable among all car manufacturers in the world.

In addition, Musk also stated at the meeting that Tesla’s competitors are in a difficult position, with many of them producing electric vehicles at a loss. He said, “It is difficult to achieve profitability in the production of electric vehicles, and many competitors are bearing huge losses. We are not, we build profitable cars, and almost no one can match us. It’s really difficult.”

Musk

In addition, Musk showed a chart comparing Tesla’s profitability with that of three Chinese car companies, BYD, NIO, and XPeng, as well as Ford, Polestar, Rivian, and Lucid, but only Tesla had a positive operating profit.

According to Tesla’s first-quarter financial report, the data shows that Tesla’s global deliveries exceeded 422,000 vehicles, with total revenue of $23.329 billion, a year-on-year increase of 24%. Net profit was $2.5 billion, with an operating profit margin of 11.4%. Tesla has been profitable for 15 consecutive quarters. Tesla Model Y became the best-selling model in Europe in the first quarter and the best-selling non-pickup truck model in the United States in the first quarter.

It is worth mentioning that in the first quarter of this year, Tesla’s revenue in the Chinese market reached $4.891 billion (approximately RMB 33.748 billion), a year-on-year increase of 5.18%; sales revenue in the United States in the first quarter reached $11.247 billion (approximately RMB 77.604 billion), a year-on-year increase of 28.77%; and revenue from other markets such as Germany and Asia-Pacific reached $7.191 billion (approximately RMB 50.321 billion), a year-on-year increase of 33.86%.

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