The California-based luxury automaker is not a usual of positive results, and the results were not only amazing – but the company also added they would be mirrored in the future.
Tesla recently announced its third quarter financial results, with analysts and investors alike already used to certain losses – but the company actually reported a net income of $22 million. This was only the second quarter of profit ever since the automaker became a publicly traded company – with the business’ total revenue reaching $2.3 billion for the quarter, up an astonishing 145 percent compared to the same period last year.
This is in part thanks to the spectacular popularity of the company’s cars: sales for the quarter reached 24,821 vehicles, up 114 percent from Q3 in 2015. The numbers also show the model mix – 16,047 units for the Model S and 8,774 vehicles for the Model X. With combined orders jumping 68 percent for the cars, Tesla also added there were still 5,065 vehicles in transit towards their intended customers at the end of the quarter. Now the company is almost on track to achieve its goal for the year – 50,000 vehicles for the last six months of the year. Investors were also pleased to find out the firm opened 17 new stores in the quarter – reaching 250 units globally.