Tesla Revenue Up 47%, Gross Profit Up 7% Year Over Year
. Just looking at how that changed year over year could be a bit concerning — and maybe it remains a bit concerning for some of you. However, when you look at the number of days of supply, those concerns can also dissolve quickly. Last year, Tesla had just 4 days or supply at the end of Q2. This year, that had risen to 16 days of supply, but 16 days of supply is still better than the industry average and quite small.
The number of Tesla locations had risen 29% from 831 in Q2 2022 to 1,068 in Q2 2023. Meanwhile, its mobile service fleet rose 22% from 1,453 vehicles to 1,769 vehicles. On the charging front, Supercharger stations grew 33% from 3,971 to 5,265, and individual Superchargers connectors grew 33% from 36,165 to 48,082. That’s astounding charging infrastructure growth, and it’s something we’ll probably come back to in another article.
The vehicle business is certainly the bulk of Tesla’s business, but let’s also look at those other interesting energy industry metrics. Deployed Tesla solar poweryear over year, from 106 MW to 66 MW. That’s a bit surprising since the Inflation Reduction Act has encouraged solar power adoption. On the other hand, deployed energy storage products grewWe’ll come back to other highlights in future articles, but the quarterly Tesla conference callI don't like paywalls.
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