Comprehensive Analysis of Tesla's Sales, Revenue, and Production Statistics (2024)

1. Introduction

• This report provides a detailed breakdown of Tesla's performance in terms of sales, revenue, production, and other key statistics up to 2024, based on past and present data.

2. Introduction and Background

• 2-1. Brief History of Tesla

• Tesla was incorporated as an electric vehicle manufacturer in July 2003. Initially, the company faced significant difficulties when it came to developing technology, producing prototypes, and scaling manufacturing. Elon Musk joined the company as chairman in 2004. Early on, he stated that Tesla had just a 10% chance of success.

• 2-2. Key Milestones and Technological Advancements

• Today, Tesla delivers more than 400,000 vehicles each quarter. Tesla sold 1,438,992 electric cars in the first 10 months of 2023, ranking 2nd worldwide after BYD. Tesla has manufactured 1.35 million vehicles in the first three quarters of 2023 alone. Tesla's revenue was $71.6 billion in Q1-Q3 2023. 127,855 employees work at Tesla worldwide. From 2019 to 2022, annual Tesla deliveries increased by 3.58x. Tesla produced 430,488 vehicles in Q3 2023, bringing a total of 1,350,996 vehicles in the first nine months of 2023. Tesla’s annual vehicle production has increased 3.75x from 2019 to 2022. Tesla operates 5,878 Supercharger stations in 45 countries as of December 2023.

3. Sales and Market Performance

• 3-1. Global Sales Statistics

• According to the collected data, Tesla sold 1,438,992 electric cars from January to October 2023, solidifying its position as the second most popular electric vehicle (EV) manufacturer globally, following BYD. The global sales performance reflects the company's strong market presence and consistent demand across various regions.

• 3-2. Sales in the United States

• The data reveals that the Tesla Model Y was the top-selling electric vehicle in the United States during Q3 2023, with 95,000 units sold. The Tesla Model 3 followed closely, securing the second spot with 53,000 quarterly sales. Collectively, all Tesla models accounted for 54.55% of the total electric vehicle sales in the US during the same period.

• 3-3. Sales in China

• In the Chinese market, Tesla's Model Y was the third most sold electric vehicle from January to October 2023, with a total of 346,462 units sold. Additionally, 115,893 Tesla Model 3 vehicles were purchased within the same timeframe. This performance underscores Tesla's competitive position in one of the world's largest markets for electric vehicles.

• 3-4. Sales in Europe

• The data indicates that the Tesla Model Y was the best-selling electric vehicle in Europe during the period from January to October 2023, with 220,310 units sold. This figure is 3.15 times higher than the sales of the nearest non-Tesla EV model, the Volkswagen ID.3. These statistics highlight Tesla's strong market leadership in the European EV market.

4. Production and Manufacturing Facilities

• 4-1. Vehicle Production Statistics

• Tesla produced 430,488 vehicles in Q3 2023, bringing the total for the first nine months of 2023 to 1,350,996 vehicles. Tesla’s annual vehicle production has increased 3.75 times from 2019 to 2022. For perspective, it took Tesla 50 days to manufacture 50,000 vehicles in 2019. Today, the same number of vehicles can be produced in just under 14 days.

• 4-2. Locations and Capacities of Manufacturing Facilities

• Tesla has four active automotive manufacturing facilities spread across three countries: the United States, China, and Germany. The original Fremont Factory is located in California, USA. The Gigafactory Texas is also in the United States while the Gigafactory Shanghai is located in China. Additionally, there is the Gigafactory Berlin-Brandenburg in Germany.

5. Revenue and Financial Performance

• 5-1. Annual Revenue Breakdown

• Tesla generated $81.46 billion in annual revenue in 2022, representing an increase of 51.35% compared to 2021. In the first nine months of 2023, Tesla's revenue reached $71.6 billion. These figures demonstrate Tesla's significant year-over-year growth in revenue, highlighting the company's strong financial performance in recent years.

• 5-2. Quarterly Revenue Analysis

• In the first three quarters of 2023, Tesla's revenue was $71.6 billion. Notably, Tesla's Q3 2023 revenue figures contributed significantly to this total. The quarterly financial data illustrates Tesla's revenue momentum during 2023, underscoring consistent performance and growth within each quarter.

6. Tesla Supercharger Network

• 6-1. Supercharger Locations and Growth

• Tesla operates 5,878 Supercharger stations in 45 countries as of December 2023. The number of Supercharger locations has increased by 91.47% over the last two years (December 2021 – December 2023). In the last 3 years alone (December 2020 – December 2023), Tesla has added 3,898 new Supercharger stations. Supercharger is Tesla’s fast-charging network aimed at providing its customers with convenient and rapid charging solutions.

• 6-2. Supercharger Stations Distribution by Country

• As of December 2023, the United States and China account for 68.12% of all Tesla Supercharger stations, with a combined total of 4,005 Supercharger locations. While the Tesla Supercharger network extends to 45 countries, the vast majority (87.73%) of these stations are concentrated in just 10 countries.

7. Workforce Analysis

• 7-1. Employee Demographics

• As of the most recent data, Tesla employs a total of 127,855 full-time employees worldwide. This employee count includes personnel working in Tesla's various subsidiaries. Since 2020, Tesla's workforce has grown by 1.8 times, which translates to the addition of 57,098 new employees in this period. Here's a table showing the Tesla employee count since 2010: - 2023: 127,855 employees - 2020: 70,757 employees Sources: Macrotrends, Levels.fyi, H1B Salary Database.

• 7-2. Employee Compensation

• Tesla offers competitive compensation packages across various job roles. For instance, the median compensation package for software engineers at Tesla totals $195,000. Moreover, Tesla employees working in the US under an H1-B visa receive a median base salary of $140,000. These figures reflect Tesla's commitment to attracting and retaining talent through substantial financial incentives. Sources: Macrotrends, Levels.fyi, H1B Salary Database.

8. Glossary

• 8-1. Tesla [Company]

• Tesla, Inc. is an American electric vehicle and clean energy company founded in 2003. The company specializes in electric vehicle manufacturing and, through its SolarCity subsidiary, solar energy generation and storage.

• 8-2. Elon Musk [Person]

• Elon Musk is the CEO of Tesla. He joined the company in 2004 and has been instrumental in driving its technological advancements and growth.

• 8-3. Model Y [Product]

• The Tesla Model Y is a compact electric SUV that has become the best-selling electric vehicle in several global markets.

• 8-4. Model 3 [Product]

• The Tesla Model 3 is a compact electric sedan that offers a more affordable entry point into Tesla's product lineup compared to its earlier models.

• 8-5. Gigafactory [Facility]

• Gigafactories are Tesla's advanced manufacturing facilities designed to produce electric vehicles and batteries at scale. Key locations include Nevada, Texas, Berlin, and Shanghai.

• 8-6. Supercharger [Technology]

• Tesla's Supercharger network consists of fast-charging stations that allow Tesla vehicles to recharge quickly, supporting long-distance travel for electric vehicles.

9. Conclusion

• The report consolidates Tesla's robust growth in vehicle production, revenue generation, and market penetration. The analysis highlights the company's achievements and outlines the current status based on available data.

10. Source Documents

• Tesla Sales, Revenue & Production Statistics (2024)https://backlinko.com/tesla-stats