https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-2570321291319216
Home Motoring Tesla announces Q3 results with a new record in cars delivered

Tesla announces Q3 results with a new record in cars delivered

by Dennis Mathu
0 comment

Tesla’s stock has been falling in recent weeks, but this is due to a broader market situation and possibly the Twitter saga, despite that, its sales and deliveries have reached new highs, according to Q3 results announced .

The company produced 365,923 vehicles in total and delivered 343,830 of them, representing a 42 percent increase year on year. Tesla Model 3 and Model Y account for the majority of production and deliveries, with 345,988 cars manufactured and 325,158 delivered. This figure fell short of Tesla’s expectations for September deliveries, but it still managed to deliver the most cars so far.

Tesla brought in $21.5 billion in revenue with an industry-leading 17.2 percent profit margin, resulting in a $3.7 billion profit. This revenue represents a 56% year on year increase.

So far, Tesla has a $21.1 billion cash reserve and marketable securities, which has increased by $2.2 billion this quarter.

Tesla intends to increase production by 50 percent per year, and it clearly has the cash to do so. In addition to car sales, it intends to generate revenue from software for the first time. So far, 160,000 drivers have access to the Full Self Driving beta premium feature, which will be available to the general public later this year.

Aside from car deliveries, the company installed 94 MW of solar power and added 2,100 MWh of storage capacity in the third quarter, as well as opening 4,283 Supercharger stations with 38,883 Supercharger connectors.

Without the Cybertruck and the Semi, Tesla’s predicted capacity for next year is 1.8 million vehicles. If Tesla can continue to ramp up production at the current rate, next year looks promising for Tesla shareholders.

You may also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-2570321291319216
%d bloggers like this: