Tesla made profits for the fifth consecutive quarter, with an annual production capacity of 250000 vehicles in Shanghai

category:Finance
 Tesla made profits for the fifth consecutive quarter, with an annual production capacity of 250000 vehicles in Shanghai


Tesla said the sharp increase in net profit was mainly due to the substantial increase in vehicle delivery and other business growth. In addition, Tesla said the companys average car price (ASP) fell slightly compared with the same period last year, and the product structure continued to shift from models s and modelx to cheaper model 3 and model y.

In the third quarter, Tesla automobile business revenue was $7.611 billion, up 42% year-on-year and 47% month on month. The gross profit rate of the automobile business was 27.7%, higher than 25.4% in the second quarter and 25.4% in the market expectation. Revenue from regulatory credit (the companys payments from other car manufacturers to offset emissions) fell to 397 million from $428 million in the previous quarter, or 5% of its total revenue, up 196% year-on-year.

After the release of the third quarter financial report, affected by good performance news, Teslas share price rose 2.92% after hours to 435 US dollars per share, up more than 400% from the beginning of the year.

Tesla said in the financial report that although it is more difficult to achieve, it will continue to maintain the target of delivering 500000 vehicles this year. Achieving the delivery target depends on the quarterly growth of modely and Shanghai plant capacity, as well as further improvement in logistics and delivery efficiency.

In terms of plant capacity, the capacity of Shanghai Super factory Model3 has been increased to 250000 vehicles per year; the capacity of Fremont factory in California has increased to 590000 vehicles per year, of which the capacity of Model3 and modely is 500000 per year; the Berlin plant in Germany is expected to be put into operation in 2021. Semi trucks will also be delivered from 2021.

In terms of production and sales, Tesla produced 145036 vehicles in the third quarter, up 51% year-on-year and 76% month on month. Among them, the output of Model3 and modely was 128044, with a year-on-year increase of 60% and a month on month growth of 69%; the output of models s and modelx was 16992, with a year-on-year increase of 4% and a month on month growth of 169%. Tesla delivered 139593 vehicles, up 44% year-on-year, a record high. Among them, 15275 vehicles were delivered by models s and X, and 124318 vehicles were delivered by model 3 and y.

The third quarter was the best quarter in Teslas history, Elon Musk, Teslas CEO, said in a subsequent earnings call

The results came a day after Mr. musk tweeted that Tesla would launch a test version of full automatic driving ability (FSD) on Tuesday night, saying the push would be extremely slow and cautious. Speaking on the conference call, musk said FSD would be available to more car owners by the end of the week and would be widely released by the end of this year.

In a conference call, musk also talked about battery day in September, saying the results of battery day are the result of Teslas years of efforts. In the next few years, Teslas battery production costs will be reduced to half of what they are now and capital spending will be cut by a third, he said. In terms of production capacity, musk said the three super factories have made positive progress, and said he has been impressed by the achievements of the Chinese team. He also pointed out that due to the popularization of new production technology, the capacity of Berlin super factory will increase slowly, and it may take about 12-24 months to increase to the maximum capacity. In response to whether Teslas business will be split into independent companies, musk said there were no plans to split up and said the split would only increase complexity. Source: surging news editor: Yang Bin_ NF4368

In a conference call, musk also talked about battery day in September, saying the results of battery day are the result of Teslas years of efforts. In the next few years, Teslas battery production costs will be reduced to half of what they are now and capital spending will be cut by a third, he said.

In terms of production capacity, musk said the three super factories have made positive progress, and said he has been impressed by the achievements of the Chinese team. He also pointed out that due to the popularization of new production technology, the capacity of Berlin super factory will increase slowly, and it may take about 12-24 months to increase to the maximum capacity.

In response to whether Teslas business will be split into independent companies, musk said there were no plans to split up and said the split would only increase complexity.