Tesla posts record quarterly profit of $ 1.6 billion

Released on 21.10. 2021

  • Tesla CEO Elon Musk speaks before the unveiling of the Tesla Model Y. (archive image). Photo: Jae C. Hong

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Although the auto industry suffers from a lack of components, Tesla is posting record numbers for the third quarter in a row. The company wants to boost production with two new plants.

Palo Alto (dpa) – Despite the global chip crisis and delivery problems, the US electric car manufacturer Tesla earned more in the third quarter than ever before in a quarter.

In In the three months to the end of September, profit rose year-on-year by 279 percent to 1.6 billion dollars (1.4 billion euros ), as the group of star entrepreneur Elon Musk announced on Wednesday after the US stock market closed. Sales grew by 57 percent to the record value of 13, 8 billion dollars.

The company is building Tesla’s European car factory in Grünheide near Berlin proceeding as planned. “We expect to receive the final approvals before the end of this year,” said the quarterly report. Actually, Tesla wanted to start production in Brandenburg in July, but bureaucratic discrepancies delayed the schedule. Tesla continues to assume that the first Model Y will roll off the assembly line before the end of the year.

“Overall, I am very proud of what the team has achieved,” said Tesla board member Zach Kirkhorn at a conference call after presenting the annual report. The start of production is approaching both in Grünheide and in Austin, Texas, where another Tesla plant is under construction. However, the top manager warned that there were still major challenges ahead and that mass production would depend heavily on the currently difficult supply of components.

The quarterly figures of the electric car pioneer exceeded the expectations of most analysts clearly. Investors reacted cautiously, however, the share even fell slightly after the trading hours. Although the automotive industry as a whole has been groaning for months under the semiconductor shortage, shortage of containers, traffic jams at seaports and other bottlenecks in the supply chains, Tesla has so far been able to cope with the burdens relatively well. In the third quarter, the company brought 241. 391 Vehicles to his customers, around 73 percent more than a year earlier.

Auto expert Ferdinand Dudenhöffer was very impressed by the annual report, which already showed the third record quarterly profit in a row. “Tesla is bursting with strength and Grünheide has not even started up,” said the industry expert. While Tesla’s profit margins rose recently, the importance of emissions certificates, which other automakers need to improve their emissions balance, fell again. In the last quarter of the year, Tesla only had 241 million dollars, in the previous quarters these revenues were significantly higher.

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