Tesla Makes the Fifth Consecutive Quarterly Profit
Car manufacturer Tesla has closed a quarter with a profit for the fifth time in a row. The electric car manufacturer posted a profit of $ 331 million in the three months to September.
The firm is also on track to deliver half a million cars this year.
With his quarterly result, CEO Elon Musk’s company managed to exceed analysts’ expectations. Tesla did the same with its turnover of nearly $ 8.8 billion, compared to $ 6.3 billion a year earlier.
Tesla previously expressed the expectation to deliver 30 to 40 percent more cars this year than in 2019. This means that the company could possibly ship more than 500,000 models for the first time.
Due to the influence of the corona crisis, Tesla moderated its tone earlier. In the last months of the year, Tesla still has to deliver at least 181,000 cars to achieve its goal.
That would mean an increase of 30 percent quarterly. Tesla now emphasizes that achieving the goal has become a bit more difficult recently.
Tesla earns a lot of money by selling emission rights to peers who do not yet meet the emission morals in Europe and California. But investors would like to know if the company can make and sell its cars profitable.