Tesla revenue grew 21% in the first three quarters of this year

Tesla revenue grew 21% in the first three quarters of this year

October 25, 2019 0 By autotimesnews

However, the company’s profit in the third quarter of 2019 decreased significantly compared to last year.

Information on Tesla’s revenue and profits for the first nine months of this year became known. According to the Prime agency, the company’s revenue from January to the end of September amounted to $ 17.194 billion, which is 21% better than a year earlier. However, with regard to profit, things are not going so well. In the first three quarters, the net loss attributable to shareholders amounted to $ 967 million. It should be noted that this parameter has improved – a year earlier the loss was 13.4% more. The American company finished the third quarter in positive territory – its profit amounted to $ 143 million.

Net revenue for the third quarter is $ 6.3 billion (-7.6%). The fall in this indicator should be primarily associated with the high base of last year.

 In the third quarter of 2019, Tesla reached record levels for the supply of cars – from July to September, 97 thousand new cars were produced. The company plans to reach 360 thousand by the end of the year. More recently, Tesla has received permission to manufacture automobiles in China. This will allow the company to sell its cars in the Middle Kingdom without an additional duty of 25%, which can significantly improve the brand’s net profit.