Tesla’s revenue grew to nearly 81.5 billion U.S. dollars in the 2022 fiscal year, a 51 percent increase from the previous year. The United States is Tesla's largest sales market.
Revenue rises on model additions
More than 71 billion U.S. dollars of the company's revenue is generated from Tesla's automotive segment, which includes the design, manufacturing, and sales of vehicles. As of March 2020, the electric vehicle (EV) maker has a model range that includes the Tesla Model S, Tesla Model X, Tesla Model 3, and the Tesla Model Y. The production of the anticipated Cybertruck, the brand's light truck model, has been delayed. Mass production for the model is estimated to happen in 2024.
Model 3 legacy
The Model Y has emerged as Tesla's best-selling vehicle, leading the ranking in worldwide plug-in vehicle sales in 2022. In June 2021, the Model 3 became the first electric car to pass one million global sales.
Much of Tesla’s spending has specifically been on production of its Model 3 and Model Y, a strongly popular vehicles with high demand. One response to this surge in popularity for the Model 3 was Tesla’s 2018 purchase of land for the construction of a Gigafactory in Shanghai, China. A factory within China will provide Tesla steady access to the Chinese electric vehicle market, a consistency welcomed in the midst of tensions between the U.S. and China over trade policies.
Tesla's revenue from FY 2008 to FY 2022
(in million U.S. dollars)
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Tesla. (January 26, 2023). Tesla's revenue from FY 2008 to FY 2022 (in million U.S. dollars) [Graph]. In Statista. Retrieved December 09, 2023, from https://www.statista.com/statistics/272120/revenue-of-tesla/
Tesla. "Tesla's revenue from FY 2008 to FY 2022 (in million U.S. dollars)." Chart. January 26, 2023. Statista. Accessed December 09, 2023. https://www.statista.com/statistics/272120/revenue-of-tesla/
Tesla. (2023). Tesla's revenue from FY 2008 to FY 2022 (in million U.S. dollars). Statista. Statista Inc.. Accessed: December 09, 2023. https://www.statista.com/statistics/272120/revenue-of-tesla/
Tesla. "Tesla's Revenue from Fy 2008 to Fy 2022 (in Million U.S. Dollars)." Statista, Statista Inc., 26 Jan 2023, https://www.statista.com/statistics/272120/revenue-of-tesla/
Tesla, Tesla's revenue from FY 2008 to FY 2022 (in million U.S. dollars) Statista, https://www.statista.com/statistics/272120/revenue-of-tesla/ (last visited December 09, 2023)
Tesla's revenue from FY 2008 to FY 2022 (in million U.S. dollars) [Graph], Tesla, January 26, 2023. [Online]. Available: https://www.statista.com/statistics/272120/revenue-of-tesla/