The increase in sales of the Tesla Model 3 here led to an additional € 43.49 million in revenue for the Irish division of Elon Musk’s electric vehicle company last year.
Tesla Motors Ireland Ltd’s new account shows that in the 12 months to the end of December last year, higher costs contributed € 564,759, an 8% decrease in pre-tax profit.
The company continued its uptrend last year as revenue increased by € 3 million, or 8%, from € 41.08 million to € 43.49 million.
The electric car maker quoted by Nasdaq opened its first Irish dealership and showroom in Sandyford, southern Dublin in April 2017.
According to the latest figures from the Irish Automobile Industry Association (SIMI), 863 new Tesla were first registered in 2021. This is an increase of 10.6% over the previous year.
Against the backdrop of soaring gasoline and diesel prices, Tesla had its greatest year in Ireland in 2022, with 675 Tesla registered here for the first five months. This is 78% of the total number of registrations in 2021.
Tesla has increased its market share in the new car market here more than 10 times from its low base of 0.1% in 2018 to 1.07% in the first five months of the year.
Currently, Tesla has a global market capitalization of $ 744 billion.
According to a report by a director of Tesla Motors Ireland, the company delivered more vehicles in 2021 compared to 2020, primarily due to increased sales of the Model 3.
Prices for the Model 3 range from € 61,091 to € 76,467.
At the end of last year, the board said there were 36 charging points on six Irish supercharged sites.
Last year, the company’s cost of goods sold increased by more than 9% from € 36.99 million to € 40.46 million.
Last year, the number of employees increased from 15 to 17, and labor costs increased from 896,455 euros to 911,119 euros. After paying corporate tax of € 102,858, the company’s profit after tax was € 461,901.