Electric car maker Tesla Reaches Record Quarterly Profit, Revenues Soar 74%

Electric car maker Tesla Reaches Record Quarterly Profit, Revenues Soar 74%

April 27, 2021 0 By autotimesnews

Recently, Elon Musk’s company has been facing tough competition in its industry: manufacturers of traditional cars have begun to actively electrify their model lines. As a result, Tesla began to lose ground in some regional markets. However, this did not affect her financial well-being so much.

Tesla has announced the results of its work for the first three months of this year. According to the automaker’s report, key figures rose markedly during this period. The company’s revenue in the first quarter reached an impressive $ 10.39 billion. Despite the crisis, Tesla earned 74% more than from January to March last year.

In comparison, the brand sold its electric cars for $ 5.99 billion back then. If we talk about net profit, it amounted to $ 438 million, or 39 cents per security. For the beginning of the year, this is a very good result, claiming to be a record. A year ago, Tesla was only charged two cents per share.

In just the reporting three months, the company produced 180,338 electric cars of two models Model 3 and Model Y. Model S and Model X were no longer produced during this period, but the brand nevertheless handed over 2,030 such electric cars to customers – all of them left the assembly line earlier.

182,847 Model 3 and Model Y electric cars fell into the hands of buyers. So Tesla ultimately shipped 184,877 zero-emission vehicles.

There is an increase of 109%. In May, the company has scheduled the first deliveries of the updated Model S sedan. The Model X crossover, which has also been updated, will begin shipping in Q3 2021.

Earlier, AutoTimesNews said that the Volkswagen ID.4 GTX electric car was shown on a new teaser on the eve of its debut on April 28. The novelty revealed the details of the exterior and interior and showed the work of “smart” headlights.