Positive charge for Tesla’s Spanish sales last year

TESLA SPAIN’S sales rose 55 per cent last year, bringing a net profit of €2.64 million, 52.6 per cent more than in 2021.

The company is a subsidiary of Dutch-registered Tesla Motors Tesla Motors Netherlands BV, which in turn depends on Elon Musk’s parent company based in Delaware in the US.

Last year Tesla Spain distributed 4,607 vehicles, a 44.5 per cent increase on 2021 according to accounts submitted to the Registro Mercantil, equivalent to Companies House in the UK.

The increase was the result of the Spain’s expanding market for electric vehicles, assisted by government subsidies for non-polluting vehicles.

The company explained that energy costs had risen and some raw materials were now more expensive owing to the Ukraine war.  The impact of the conflict on its finances depended on “future events which could not be predicted with accuracy”, sources added.

Sales of Model 3 fell by 4 per cent, but still accounted for 59 per cent of the total with 2,736 vehicles.  In contrast, Model Y sales rose by 464 per cent to 1,828 vehicles, with Model S and Model X responsible for just 1 per cent.

So far in 2023, Tesla Spain has sold 2,048 cars, 45.35 per cent more than during the same period in 2022.

Turnover reached €229.2 million, 51 per cent more than last year while income from services rose almost fourfold to 244.6 per cent to €112 million.  The company paid €894,087 in corporation tax last year, compared with €595,590 in 2021.

Personnel costs for Tesla Spain’s 150 staff members cost the company €9.06 million, 31.49 per cent more than in 2021.

By the end of last year, Tesla had six centres and 70 ultra-fast charging stations in Spain, with plans to open another servicing facility this November.

Tesla Spain’s report made no mention of Musk’s planned €4.5 billion gigafactory which early rumours maintained would be built in Cheste (Valencia).  Insiders now believe that the plant for manufacturing electric vehicle batteries was more likely to be built in Portugal, France or Italy.