Tesla Reaches Record Quarterly Profits, Revenue Soars 74%
Tesla reported on work in the first quarter of this year: impressive growth was recorded in key indicators. Meanwhile, Elon Musk‘s head has revealed the timing of the start of deliveries of new versions of the flagship electric vehicles Model S and Model X.
The reporting period reached $ 10.39 billion, an impressive 74% increase compared to the first quarter of last year when this figure was $ 5.99 billion.
Net income was $ 438 million, or 39 cents per share – a record result for the first quarter. For comparison: a year earlier, Tesla earned $ 16 million, or 2 cents per share.
Within three months, the company delivered about 184 thousand Model 3 and Model Y electric vehicles. At the same time, more expensive Model S and Model X cars were not produced during this period – their deliveries amounted to 2,020 units from stock.
According to Mr. Musk, Tesla will begin shipping a new version of the Model S sedan in May, while deliveries of the updated Model X crossover are planned to be organized in the third quarter.
Tesla intends to bring the weekly production of Model S and Model X to 2,000 units this year. Overall, the company expects that electric vehicle delivery this year will increase by more than 50% compared to 2020. This means that shipments will amount to at least 750 thousand pieces by the end of the current year.