Tesla has subscribed to the good results. With the data presented today at the close of Wall Street, there are already five consecutive quarters in which the electric vehicle company makes profits, the best streak in its 17-year history. Much of the blame is on a new three-month vehicle delivery record of 139,300, with a 42% increase in profits in that chapter over last year. The market after-hours celebrated the strength of the company led by Elon Musk with up 3.5% revaluation of their securities.
The pandemic has not been able to stop the excellent streak that the world leader in electric cars is going through. Their $ 8,771 million of revenue in the third quarter constitute a new brand, exceeding the result obtained in the same period of 2019 by 45%. $ 331 million of net profit they are also a record. The improvement compared to 2019 is 218%.
“The third quarter of 2020 was a record quarter on many levels,” the company noted in its report to investors. “During the last four quarters, we generated more than 1,900 million dollars cash flow while we invested $ 2.4 billion in increasing production capacity, service centers, supercharger locations and other capital investments. “
Part of that investment has gone to its new factories in Austin, Texas, where the pickup Cybertruck on a large scale, and Brandenburg, Germany, as a large distribution center for the European market. Less has been the expense in Shanghai, where they are close to reaching the goal set for the Model 3 for 2020. Currently they are already manufactured 250.000 al año.
In terms of production, the acceleration has also been great. The third quarter had 145,036 models manufactured, a 76% improvement compared to 2019 and 40,145 more than the previous best brand, from December 2019.
The Model 3 remains the flagship product, with great difference. Of the total, 128,044 correspond to that model – combined with the production of the new Tesla Y in their report – compared to 16,992 for the Model S and X. And if nothing prevents it, they will reach one million vehicles manufactured per year. or in a few months after having increased the pace at the Fremont, California plant, its main engine in that regard. The total capacity at present is 590,000 annual units, which added to the 250,000 of China places them at 840,000. Another record.
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