DAmerican car company Tesla ended the second quarter with record sales, profits and sales figures. According to its own information, the electric car company achieved a profit of $1.14 billion with sales of just under $12 billion.This exceeds Elon Musk The running company meets the expectations of most analysts. Profit is ten times that of the same quarter last year, and turnover has doubled. Musk himself talked about the year of Tesla’s breakthrough at the analyst meeting.
The extraordinary thing about Tesla is not that it has developed a prototype of the car. This is also the case with hundreds of start-ups. According to Musk, it is worth noting that Tesla did not go bankrupt like other companies. He believes that the public’s perception of electric vehicles has reached a turning point. The public will see that they represent the future.
11% profit margin
Automobile sales are the biggest sales driver, with sales exceeding $10 billion. According to its own statement, Tesla has only earned US$354 million by selling eco-credits to other auto companies. In this way, the company refuted the suspicion of relying heavily on these credits. In the solar and power storage business, Musk has recently had to defend his acquisition in court. The solar and power storage business plays a minor role in this business, accounting for less than 10% of the business, but it is also growing.
The company noted an 11% increase in profitability. Tesla therefore reached another internal milestone, which is why stock options worth $176 million were transferred to the company’s securities portfolio: Elon Musk, as the head of the group, did not receive a salary, but in a certain A milestone has been reached in obtaining stock option awards under these previously defined circumstances. The $23 million write-down hit the company’s acquisition and acceptance of Bitcoin as payment in a short period of time. However, in April, Tesla sold some of its bitcoins, making a profit of approximately $100 million. Additional raw material costs also inhibited profitability.
Vehicle deliveries have increased from 91,000 in the second quarter of last year to 201,000 in the current comparison period, most of which are 3-series vehicles. Tesla restricts production at the maximum capacity, which is determined by the replenishment of preliminary products. Many automobile companies around the world are facing a shortage of microchips. Musk confirmed a serious problem beyond the company’s control and caused a temporary shutdown.
Progress is being made at two production sites under construction in Texas and Berlin-Brandenburg. You work as quickly as possible to be able to start production in Berlin. Musk expects that both locations will begin limited production this year. The pain of making a work is difficult to convey to outsiders. The company reports that time is of the essence, especially in Europe: European demand is much higher than supply. Tesla’s current annual production capacity is close to 1.1 million vehicles.
