Sci-Tech

Musk brings record numbers: Tesla reports the fifth quarterly profit in a row – the economy

The American electric car manufacturer Tesla is in full numbers for the fourth quarter and has confirmed its ambitious annual targets. In the three months to the end of September, net profit was $ 331 million (279 million euros), according to technology billionaire Elon Muska on Wednesday after the US stock market closed in Palo Alto. Tesla increased its revenues by 131 percent compared to the same period last year.

Revenue rose 39 percent to $ 8.8 billion, a new record. Tesla clearly exceeded expectations, the shares reacted after hours with a significant price increase. With surprisingly strong quarterly numbers, Tesla is expanding a number of successes – since its founding in 2003, the company has not been profitable for so long.

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Tesla also confirmed that it will continue its ambitious plan to deliver half a million vehicles this year, despite the stress of the Corona crisis. In the first three quarters, almost 320,000 cars were sold to customers, of which 139,593 in the previous quarter. However, reaching the annual target of 500,000 deliveries has become more difficult, Tesla admitted in the annual report with regard to the corona pandemic.

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On the stock exchange, Tesla has been the most valuable carmaker in the world for some time. Since the beginning of the year, the share price has risen by a good 400 percent, and in the last twelve months even by almost 730 percent. Tesla’s recent market value was $ 394 billion. This means that the pioneer of electronic cars from Silicon Valley is trading more than three times as high as the two largest US manufacturers, General Motors and Ford, in terms of market shares, despite much lower sales figures. In terms of market value, Tesla is also miles ahead of German car companies.

Meanwhile, Tesla supports international expansion

For the dazzling head of Tesla Muska, who also runs the rocket company SpaceX and many other projects, the climb is a triumph. For years, his company was in the red and the future seemed uncertain. Now Tesla has even made a record operating profit – although the car market as a whole is groaning under the crisis in Corona. “The third quarter was the best in our history,” Musk said contentedly after presenting the financial report in a conference call with financial analysts.

Tesla, meanwhile, is vigorously promoting its international expansion, with production at its Chinese plant in Shanghai set to increase rapidly. In addition, according to him, the construction of the first European factory in Grünheide near Berlin is progressing rapidly. Tesla plans to produce and deliver the first cars here next year. In addition, the group wants to quickly shut down another car plant in Austin, Texas, where a compact SUV Model Y and a planned cybertruck are coming off the assembly line. (DPA)

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