Tesla on July 21 announced the second quarter of 2022 earnings, the results show that Tesla Motors second quarter revenue of $ 16.934 billion, compared with the same period last year of $ 11.958 billion, an increase of 42%; net profit of $ 2.269 billion, compared with the same period last year’s net profit of $ 1.178 billion.
In the second quarter results, Tesla performed well overall. However, the report did not explain the performance of each region. According to Seeking Alpha yesterday, Tesla’s market performance in Europe in the second quarter was not excellent, and even worse.
Statistics show that Tesla’s electric vehicle market share in Europe in 2019 was 20%. But it has been declining since then. in the second quarter of 2022, Tesla’s market share was just 5 percent, down more than 50 percent from 11 percent in the previous quarter. Since Tesla does not produce plug-in hybrids, the market share of pure electric vehicles (BEVs) is also counted. The data shows that Tesla’s pure electric vehicle market share in Europe was 8% in the second quarter of 2022, again down more than 50% from 18% in the previous quarter.
Along with the decline in market share, Tesla’s sales in Europe in the second quarter were also very unpromising. The data shows that Tesla’s sales in Europe in the second quarter were 26,154 units, compared with 59,502 units in the previous quarter, Tesla’s European sales in the second quarter were directly halved, a decline of 56%.
It is worth mentioning that Tesla’s German factory is officially put into operation on March 22, 2022, and if the factory had not been built, Tesla’s performance in the European market could have been even worse.
As of July 11, Tesla’s German factory has employed about 5,000 people, making it the largest industrial employer in Berlin. In addition, Tesla is applying to expand the factory by a third.
