blakegallagher
Member
I just looked at Tesla's Q2 numbers and for pure auto numbers excluding any credits or development services Tesla got:
$497,347 of revenue and $430,001 in cost of revenue for a gross margin of 10.3% on pure autos, 13.5% on autos + GHG/CAFE credits, and 22% including ZEV credits.
I modeled in :
$484,000 of revenue and $430,560 in cost of revenue for a gross margin of 10.0% on pure autos, 13.1% on autos + GHG/CAFE credits, and 23.1% including ZEV credits
I overstated ZEV by $11 million, since it looks like market prices for ZEV credits are coming down, hence ZEV revenue will drop off quickly as predicted by Elon on Q1 CC.
That is remarkable ... nicely done.