April 10, 2021

Tesla had a net profit of 311 million dollars in the third quarter

Tesla had a net profit of 311 million dollars in the third quarter

Tesla earned 311.5 million dollars in the third quarter of the year, compared to 619.3 million lost in the same period of 2017, reported the luxury electric car maker, which described the quarter as "historic".

Analysts had anticipated that Tesla, which until now has never had annual profits, would announce good results because it hastened to advance in two weeks the announcement of its financial accounts.

The quarter's results were based on a strong increase in revenues, which went from 2,984 in 2017 to 6,824 million dollars, an increase of 128.6%, Tesla said in a statement.

The company said that "the third quarter of 2018 was really a historic quarter for Tesla," a period in which the Model 3 became the top-selling car in the United States "in terms of revenue" and the fifth best in terms of volume.

Tesla said that during the quarter he achieved a production rate of 4,300 units of the Model 3 a week "without counting the planned production stoppages."

During the quarter, Tesla delivered 56,065 units of the Model 3. Along with the deliveries of Model S and Model X, Tesla delivered the record figure of 83,500 vehicles in the quarter.

Tesla, which has had constant production problems of the Model 3, produced a total of 80,142 vehicles during the period.

The manufacturer also indicated that "less than 20%" of the 455,000 reserves reported in August 2017 have been canceled and that it expects the remaining reserves "to gradually become firm orders".


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