Tesla's Sales, Revenue, and Production Overview (2024)

1. Introduction

• This report provides a comprehensive analysis of Tesla’s sales, revenue, and production statistics up to 2024, focusing on the company’s growth, market performance, and operational metrics.

2. Company Overview

• 2-1. Introduction of Tesla

• Tesla, Inc. is an American multinational automotive and clean energy company headquartered in Austin, Texas. The company designs, manufactures, and sells battery-electric vehicles (BEVs), stationary battery energy storage devices, solar panels and solar shingles, along with related products and services. Tesla was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors, named as a tribute to inventor and electrical engineer Nikola Tesla. In addition to electric vehicles, Tesla is developing artificial intelligence and robotics products.

• 2-2. Key Milestones

• Elon Musk joined Tesla in February 2004 as the company’s largest shareholder and was named CEO in 2008. Tesla's first car model, the Roadster sports car, began production in 2008. Following this, the Model S sedan was launched in 2012, the Model X SUV in 2015, the Model 3 sedan in 2017, the Model Y crossover in 2020, the Tesla Semi truck in 2022, and the Cybertruck in 2023. The Model 3 became the all-time bestselling plug-in electric car worldwide by June 2021, and the Model Y became the bestselling vehicle of any kind globally in 2023. In October 2021, Tesla became the seventh U.S. company to achieve a trillion-dollar market capitalization. As of March 2024, Tesla is the world's most valuable automaker.

• 2-3. CEO and Leadership Changes

• Tesla has experienced several leadership changes since its founding. Initially led by founders Martin Eberhard and Marc Tarpenning, Ian Wright joined as the third employee. In 2004, Elon Musk became chairman and the largest shareholder. By 2008, Musk took an active role and became CEO. Other notable changes include the appointment of J. B. Straubel as CTO in May 2004, and leadership interim transitions with Michael Marks and Ze'ev Drori before Musk's tenure as CEO. In June 2009, Tesla received loan approval from the U.S. Department of Energy, which it repaid by May 2013.

3. Sales Performance

• 3-1. Global Sales Statistics

• Tesla sold 1,438,992 electric cars in the first 10 months of 2023, making it the second most popular electric vehicle manufacturer globally after BYD. To date, Tesla has sold over 4.97 million vehicles.

• 3-2. Sales by Region: US, China, and Europe

• In the United States, the Tesla Model Y was the most popular electric vehicle in Q3 2023, with 95,000 units sold. The Tesla Model 3 was the second most popular with 53,000 units sold. Overall, Tesla had a 54.55% market share of electric vehicle sales in the US for Q3 2023. In China, the Tesla Model Y ranked as the third most sold electric vehicle with 346,462 units sold, while the Tesla Model 3 saw 115,893 units sold from January to October 2023. In Europe, the Tesla Model Y was the top-selling electric vehicle with 220,310 units sold between January and October 2023, which is 3.15 times more than the closest non-Tesla EV model, the Volkswagen ID.3.

• 3-3. Popular Tesla Models and their Sales Figures

• The Tesla Model Y and Model 3 dominate the sales figures across key regions. In Q3 2023 in the US alone, 95,000 Model Y vehicles and 53,000 Model 3 vehicles were sold. In China, from January to October 2023, 346,462 Model Y and 115,893 Model 3 vehicles were sold. In Europe, over the same period, 220,310 Model Y vehicles were sold.

4. Production and Manufacturing

• 4-1. Annual Vehicle Production

• Tesla produced a total of 430,488 vehicles in Q3 2023. From January to September 2023, the company manufactured 1,350,996 vehicles. Annual vehicle production has increased 3.75 times from 2019 to 2022. For comparison, it took 50 days to produce 50,000 Tesla vehicles in 2019, whereas today, the same number can be produced in just under 14 days. This data demonstrates the significant improvement in Tesla’s production efficiency over the years.

• 4-2. Manufacturing Facilities and their Outputs

• Tesla currently operates four major automotive manufacturing facilities across three countries: the United States, China, and Germany. The facilities include the original Fremont Factory in California, Gigafactory Texas, Gigafactory Berlin-Brandenburg, and Gigafactory Shanghai. Each of these factories plays a crucial role in Tesla's global production network, contributing to the company's overall vehicle output.

• 4-3. Key Production Milestones

• A notable milestone for Tesla is the increase in vehicle production efficiency. It previously took Tesla 50 days to manufacture 50,000 vehicles in 2019, but this production period has now been reduced to under 14 days. Additionally, Tesla's total vehicle production reached 1,350,996 units in the first three quarters of 2023, illustrating substantial growth. These milestones highlight Tesla's advances in scaling its production capabilities.

5. Revenue and Financial Performance

• 5-1. Annual Revenue Growth

• Tesla experienced significant revenue growth. In 2022, Tesla's annual revenue was $81.46 billion, which was an increase of 51.35% compared to 2021. By the first nine months of 2023, Tesla already generated $71.6 billion in revenue, although data for the full year 2023 is incomplete as it only covers Q1-Q3.

• 5-2. Revenue Breakdown by Quarter and Year

• In Q3 2023 alone, Tesla recorded $71.6 billion in revenue. This figure represents the cumulative financial performance of Tesla from Q1 to Q3 2023. Note that the comprehensive breakdown charts the growth in revenue since 2008, highlighting the progressive increase in financial performance over the years. The data for 2023 is noted to be incomplete, covering only the first three quarters.

• 5-3. Regional Revenue Distribution

• While the document does not provide specific monetary figures for regional distribution, it mentions the top countries contributing to Tesla's financial performance. The significant regions include the United States, China, and regions in Europe. For instance, in China, the Tesla Model Y saw substantial sales figures contribute to regional revenue, with 346,462 Model Y units sold from January to October 2023. Similarly, in Europe, the Tesla Model Y was the most sold electric vehicle from January to October 2023, with 220,310 units sold.

6. Employment and Workforce

• 6-1. Total Number of Employees

• As of the latest data, Tesla employs 127,855 full-time employees worldwide. These employees are spread across Tesla and its subsidiaries. Tesla's workforce has grown significantly, reflecting the company's expansion needs.

• 6-2. Growth in Employee Numbers

• Tesla's employee count has grown by 1.8 times since 2020. Over this period, Tesla added 57,098 new employees to its workforce, indicating the company's rapid growth and increasing operational scale.

• 6-3. Compensation and Benefits

• The median compensation for software engineers at Tesla is $195,000. Additionally, Tesla employees working in the United States on an H1-B visa receive a median base salary of $140,000. This highlights Tesla's competitive compensation packages aimed at attracting top talent in the industry.

7. Charging Network

• 7-1. Development of Supercharger Network

• Tesla's Supercharger network is a cornerstone of the company's efforts to support electric vehicle adoption. As of December 2023, Tesla operates 5,878 Supercharger stations globally. In the past two years alone (from December 2021 to December 2023), the number of Supercharger locations increased by 91.47%. Over the last three years (from December 2020 to December 2023), Tesla has added 3,898 new Supercharger stations to its network.

• 7-2. Supercharger Locations by Country

• The distribution of Tesla Supercharger stations is heavily concentrated in specific regions. As of December 2023, the United States and China together account for 68.12% of all Supercharger stations, with a combined total of 4,005 locations. While Tesla's Supercharger network spans 45 countries, 87.73% of the stations are located in just 10 countries.

• 7-3. Growth in Charging Infrastructure

• The expansion of Tesla's Supercharger network reflects significant growth in the company's charging infrastructure. The number of active Supercharger stations has seen substantial increases year-over-year, supporting the growing number of Tesla vehicles on the road. This strategic expansion helps Tesla enhance its global presence and provides essential support for its electric vehicle customers.

8. Glossary

• 8-1. Tesla, Inc. [Company]

• An American multinational automotive and clean energy company headquartered in Austin, Texas. Tesla designs, manufactures, and sells battery electric vehicles, energy storage devices, solar panels, and related products.

• 8-2. Elon Musk [Person]

• Chief Executive Officer of Tesla, Inc. since 2008. Joined the company as the largest shareholder in 2004 and has been instrumental in its growth and development.

• 8-3. Tesla Model Y [Product]

• A mid-size crossover SUV that became the most sold electric vehicle in Europe and the US in 2023.

• 8-4. Tesla Supercharger [Technology]

• Tesla’s fast-charging network for their electric vehicles. As of December 2023, there are 5,878 Supercharger stations in 45 countries.

9. Conclusion

• The data presented in this report highlights Tesla’s impressive growth trajectory in vehicle production, sales, and revenue, reinforcing its standing as a leader in the electric vehicle industry. Continued expansion in global markets and infrastructure development positions Tesla for future success.

10. Source Documents

• Tesla, Inc. - Wikipediahttps://en.wikipedia.org/wiki/Tesla,_Inc.
• Tesla Sales, Revenue & Production Statistics (2024)https://backlinko.com/tesla-stats