Tesla's revenue by segment 2023

Tesla's total revenue streams reached approximately 96.8 billion U.S. dollars in 2023, with automotive sales accounting for over 78.5 billion U.S. dollars. Tesla, which began as Tesla Motors in 2003, is the second best-selling brand of plug-in electric vehicles worldwide.

New models drive automotive sales segment growth

Tesla delivered around 1.8 million new vehicles to customers in 2023. That year, the new Model 3 and Model Y products accounted for the largest share of shipments. Automotive sales are Tesla's strongest growth driver, accounting for about 81.1 percent of revenue in 2023. Automotive sales revenue increased by around 17 percent year-on-year.

No loss on vision

Tesla produced operating profit for the first time in 2020, a value which grew to nearly 15 billion U.S. dollars in 2023. The implementation of large-scale assembly lines is suggested to gain momentum with a European factory: Tesla is investing in a new manufacturing plant in Berlin-Brandenburg. In addition to this, China is expected to become Tesla’s second largest market. China is currently the largest electric vehicle (EV) market and home to some of Tesla’s largest competitors.