Inventory

9 Months Ended

Sep. 30, 2022

Note 6 – Inventory

Our inventory consisted of the following (in millions):


	September 30,		December 31,
	2022		2021
Raw materials	$	5,381	$	2,816
Work in process		2,237		1,089
Finished goods (1)		2,067		1,277
Service parts		642		575
Total	$	10,327	$	5,757

(1)

Finished goods inventory includes vehicles in transit to fulfill customer orders, new vehicles available for sale, used vehicles, energy storage products and Solar Roof products available for sale.

We write-down inventory for any excess or obsolete inventories or when we believe that the net realizable value of inventories is less than the carrying value. During the three and nine months ended September 30, 2022, we recorded write-downs of $42 million and $91 million, respectively, in Cost of revenues in the consolidated statements of operations. During the three and nine months ended September 30, 2021, we recorded write-downs of $22 million and $78 million, respectively, in Cost of revenues in the consolidated statements of operations.