[Click eStock] "Tesla to Continue Growth This Year with Increased Volume and Lineup Expansion... Soaring Stock Price is a Burden"

[Asia Economy Reporter Eunmo Koo] Tesla's (TESLA) performance last year reportedly met its annual targets. This year, both volume and lineup are expected to expand, continuing its growth momentum. However, the recently surged stock price is seen as a burden factor.

According to Hana Financial Investment on the 31st, Tesla's sales volume in the fourth quarter of last year was 112,000 units, a 23% increase compared to the same period last year. The 'Model 3' increased by 46% to 93,000 units, while the 'Model S' and 'Model X' decreased by 39% to 19,000 units. During the same period, production rose 21% to 105,000 units, with Model 3 increasing 42% to 87,000 units, and Model S and X increasing 29% to 18,000 units. Revenue during this period grew 2% to $7.4 billion, operating profit increased 13% to $360 million, and net profit decreased 25% to $110 million.

Looking only at the automotive sector, the gross profit margin decreased by 1.8 percentage points year-on-year to 22.5%. Seonjae Song, a researcher at Hana Financial Investment, explained in a report that day, "Although sales growth led to an increase in scale, profitability declined compared to the same period last year due to a drop in average selling price (ASP) caused by the rising proportion of Model 3," adding, "The number of 'Superchargers' (fast charging stations) increased by 28% year-on-year to 1,821, with 168 new locations opened in the fourth quarter."

Last year is evaluated as a year in which annual targets were achieved. Researcher Song stated, "The annual sales target of 360,000 units was met as planned with Model 3 mass production," and explained, "Despite the decline in ASP, profitability is improving through economies of scale and cost reduction."

This year, both volume and lineup are expected to expand. The Shanghai plant in China plans to increase production capacity through a second phase expansion, and the Fremont plant in the U.S. will also expand production capacity from the end of the first quarter for the delivery of Model Y. The Berlin plant in Germany aims to start operations in 2021. Researcher Song predicted shipments would exceed 500,000 units this year. He forecasted, "Sales are expected to increase as Model 3 production rises at the Shanghai plant and Model Y is launched at the Fremont plant in the U.S."

However, the surged stock price was pointed out as a burden factor. Researcher Song noted, "Although the momentum continues to rise due to better-than-expected fourth-quarter results and expansion of volume and lineup this year, the stock price has risen 146% over the past six months, so there is a burden from the short-term surge."

This content was produced with the assistance of AI translation services.