Counterpoint: Tesla's deliveries in Q4 2023 will increase by 20% year-on-year

Recently, according to Counterpoint Research data, Tesla's deliveries in the fourth quarter of 2023 increased by 20% year-on-year, but the revenue of its automotive business only increased slightly by 1% year-on-year to approximately US$21.5 billion.

The main reason restricting Tesla's revenue growth is the decline in the average selling price of Model Y and Model 3 in China and the United States.

It is understood that Tesla boosted sales through multiple price cuts in 2023, so the annual car deliveries increased by 38% year-on-year, but revenue only increased by 19%.

Its gross margin in the fourth quarter was just 17.6%, the lowest level since 2019.

Analysts believe that as cost cuts in Tesla's current product line are approaching their limits, the company's delivery growth rate in 2024 is expected to be less than 30% or 40% in previous years.

Tesla will launch a compact car priced below US$25,000 (approximately RMB 180,000) in 2025, which is expected to increase the company's delivery growth rate.

Last December, Musk said in an interview that Tesla's low-cost electric vehicle project has made significant progress and the car will be produced at a very high rate.

Musk believes the manufacturing revolution this car represents will be astounding.

Zikuai Technology