Tesla showed another profitable quarter despite coronavirus

Tesla showed another profitable quarter despite coronavirus

May 1, 2020 0 By autotimesnews

The net profit of the American manufacturer of electric cars in the first 3 months of 2020 reached $ 16 million.

Tesla shared her successes in the next quarterly report. For the I quarter of this year, despite the difficult situation with the coronavirus pandemic, the brand managed to maintain a positive trend: Tesla remains profitable for nine consecutive months. So, for the reporting three months, the brand produced 102,672 electric vehicles, as well as 1,917 charging stations. 88 496 copies of environmentally friendly cars fell into the hands of buyers (a 21 percent drop in demand, when compared with the previous quarter). But in annual terms, we are talking about an increase of 40 percent. Tesla earned $ 5.132 billion on the sold electric cars, and the entire quarterly revenue of the brand amounted to $ 5.985 billion.

 At the same time, the net profit of the automaker, according to experts, reached $ 16 million. For comparison, for the same period of 2019, we were talking about losses in the amount of $ 702 million.

 Even the forced shutdown of production in the USA and China did not prevent the company from showing positive dynamics. What can not be said about other automakers. For example, Ford in January-March reported a loss of $ 2 billion. The forecast for the second quarter is also disappointing: the company expects an increase in financial losses by at least another 5 billion.