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Since Tesla encountered the incident of "protecting the rights of female car owners" at the Shanghai auto show, his public opinion in the Chinese market has never stopped. Under this pressure, Tesla also released his first-quarter results. The delivery volume has set a record, and its revenue and profit have exceeded market expectations. Nevertheless, some indicators of the quarterly report fell short of market expectations, causing its shares to fall by more than 2% in after-hours trading.

According to Tesla's specific financial report, its revenue in the first quarter was 10.39 billion US dollars, an increase of 74% compared with 5.985 billion US dollars in the same period last year, a 3.3% drop from the previous month, and exceeding the market expectation of 10.29 billion US dollars. According to the US General Accounting Standards (GAAP), Tesla realized a net profit of US $438 million belonging to common shareholders, an increase of 2638% compared with US $16 million in the same period last year, an increase of 62.2% month on month, but lower than the market expectation of US $525 million, making a profit for seven consecutive quarters.

Such a performance also caused Tesla's share price to rise slightly and then fall, falling more than 3 per cent at one point, after releasing its first-quarter results. As of press time, Tesla's shares fell 2.33% to $721 in after-hours trading.

For the revenue growth in the first quarter, Tesla said that it was mainly due to the substantial increase in vehicle delivery and other aspects of growth.

Specifically, Tesla delivered a total of 184877 cars in the first quarter, an increase of 109 per cent over the same period last year. Of this total, delivery of Model 3 and Model Y was 182847, an increase of 140 per cent year-on-year. Delivery of Model Model S and Model X was 2030, down 83 per cent from the same period last year.

Tesla said that although the average sales price of Tesla cars declined in the first quarter, the company still made an increase in profits, mainly reflected in the decrease in vehicle costs and an increase in the gross profit margin of car sales. This also includes the introduction of new products and the establishment of new factories, as well as the reduction in the ratio of Model S to Model X, which reduced the company's average cost per vehicle to less than $38000 in the first quarter, compared to the average cost per Model 3 of about $84000.

For example, in Tesla's quarterly report, the rate of domestic parts at the Shanghai factory has recently increased to more than 90%, and the car export plan to Europe and the Asia-Pacific region can be realized. At the same time, according to the production and marketing report, Tesla did not produce any high-end Model S cars or Model X SUV models in the first quarter of this year.

It is worth mentioning that Tesla's first-quarter results also mentioned the reasons for the company's profitability, including a $101 million "positive impact" on bitcoin sales. In other words, as the price of bitcoin rose in the first quarter, Tesla quickly transferred some of his bitcoin holdings, earning a profit of $101 million. Tesla announced in February that he had bought $1.5 billion worth of bitcoin and may invest in other cryptocurrencies in the future. Tesla CFO also said that Tesla believes in the "long-term value" of Bitcoin and the company will continue to invest in Bitcoin.

Thanks to Tesla's first-quarter results that met the targets set by the board, Tesla CEO Elon Musk (Elon Musk) will be eligible for two option awards with a total value of $11 billion, or about 71 billion yuan.

On the performance of the future market, Tesla said sales growth this year is expected to exceed 50 per cent as new plants in Texas and Berlin are expected to start production and delivery this year. Musk also said that Tesla will reach 2 million cars on the road next year, and the number of Tesla on the road has exceeded 1 million. At the same time, with the smooth progress of domestic Model Y production, Musk also said that the Model Y will probably become the best-selling car in 2022.

In the past quarter, Tesla not only suffered various shocks of public opinion in the Chinese market, but also often appeared news caused by accidents in the North American market, but it did not seem to have had much impact on Tesla, so he had to admire Tesla's "strength."

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