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Tesla reports billion-dollar profit for the first time

Due to strong sales, the electric car pioneer reports a doubling of revenue in the second quarter and a net profit of $1.1 billion with an eleven percent margin.

Strong electric family: Above all, the Model 3 contributed to the increase in units, which is expected to be further driven by the Model Y, the Model S Plaid, and an update for the entire range. | Photo: Tesla
Strong electric family: Above all, the Model 3 contributed to the increase in units, which is expected to be further driven by the Model Y, the Model S Plaid, and an update for the entire range. | Photo: Tesla
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Johannes Reichel

The American electric car pioneer Tesla has recorded a billion-dollar profit for the first time in its over twenty-year company history. In the second quarter, the Californians reported a doubling of revenue compared to the same period last year, as well as a net profit of $1.1 billion. The profit margin was eleven percent, which also puts them on par with larger competitors like VW and Daimler for the first time. Another first is that the Musk company is no longer dependent on the sale of CO2 certificates to other car manufacturers for profit. In fact, the doubling of sales to 200,000 units compared to the previous year contributed to this.

Semi-Truck postponed - Priority for passenger car production

The supply shortages of microchips and raw materials seem to be better handled by the US car manufacturers than by the competition. However, special effects are also being blamed for the unexpectedly high profit. Tesla itself predicts a more challenging growth path due to the shortages. Nevertheless, they are on track and hope for a boost from the compact SUV Model Y, which is expected to go into production in Texas as well as in the much-discussed and controversial Grünheide plant near Berlin. Due to these production challenges, the start of the so-called Semi-Truck, an all-electric tractor-trailer, has been postponed to 2022.

Translated automatically from German.
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