According to a report by Nikkei Asia.
Tesla reported a net profit for the third quarter of 2022 of US$3.29 billion (RM14.9 billion) while Toyota claimed that it made a net profit of US$3.15 billion (14). ,3 billion RM) in the same period. Teslarati report.
According to the report, Toyota’s lack of profitability per vehicle sold was due to a number of circumstances that required the Japanese manufacturer to make unforeseen expenditures. Teslarati. Toyota’s high operating costs are due to the sharp increase in electricity prices, along with rising raw material costs, which led to Toyota having to increase spending significantly in the third quarter of 2022, thus reducing its operating profit to only over 3 billion USD (13.6 billion RM).
In terms of margins in China, Tesla has a gross margin of 39% and 29.4% for sample 3 and Model Y EVs respectively, while the U.S. automaker’s gross margin globally was 27.9% in Q3 2022, equal to Q2 gross margin earlier in the year.
To be sure, Tesla is on a much smaller scale than Toyota, as the former reported deliveries of 936,000 vehicles in 2021 while the latter reported 9.51 million deliveries last year (fiscal year ending in March 2022; it sold nearly 10.5 million vehicles from January to December 2021).
According to the analysis of Nikkei Asia as reported by Teslarati.
“The biggest factor behind Tesla’s profit growth was sales, followed by rising prices and increased sales of self-driving software,” said SBI Securities analyst Koji Endo. Tesla has also been reducing production costs with its Giga Press which allows a significant reduction in the number of parts, thereby reducing production time and improving efficiency.
Inside the tram cites an example where the back of a Model Y frame was previously made of 70 individual pieces, and the use of Giga Press reduced that number to just one piece. The Giga Press has also allowed Tesla to remove about 300 robots from the production line to assemble the aforementioned 70 parts; The machine will also be used in the upcoming production Cybertruck.
