Tesla, Elon Musk’s home of electric cars, continues to surprise. In the third quarter it posted record revenues and profits. The profit recorded amounts to 1.86 dollars per share, 27 cents more than expected by experts. This is Tesla’s ninth consecutive profitable quarter.
The turnover is as high as $ 13.76 billion and Tesla also announced the delivery of 241,300 electric vehicles, up 73% year-on-year. In addition to the production of 237,823 cars in the three months ended 30 September 2021.
The microchip crisis has put various sectors in crisis, including the automotive one, but Tesla has nevertheless recorded increasing sales, updating its record. The stock on the stock exchange, which had closed the session up by 0.18%, lost about 0.6% in the afterhours shortly after the publication of the quarterly report.
Net earnings per share of GAAP were $ 1.62 billion for the quarter, for the second time above $ 1 billion; a year ago, it was 331 million. “We expect the operating margin to continue to grow over time,” Tesla said in a statement. “We have enough cash to finance our product roadmap, our long-term expansion plans and other expenses.” The company’s goal is to produce one million electric cars per year. This is a truly remarkable result considering that until a few years ago only a few tens of thousands of cars were delivered per year.
Despite problems with some vehicles that have been withdrawn due to touch screen malfunctions, Tesla does not even seem worried by the appointment of Steven Cliff as head of the National Highway Traffic Safety Administration (Nhtsa), the American federal body that controls roads and vehicles. Cliff is the one who, after various accidents with automated cars, has opened an investigation for cars with autopilot.