'Tesla just released its financial results for the third quarter of the year and reported a net profit of $312 million, finally allowing Musk to keep a promise. “We delivered more cars in this quarter than in all of 2016,” the CEO said on a call to discuss the numbers.
Proving that Tesla can make a profit has been a crusade for Musk, and the figure is higher than most analysts had estimated. He’s said that the criticism of the company—that it has to be profitable to be viable in the long term —is fair, and that he's been eager to prove the doubters wrong. One quarter in the black is a start, but Musk will have to keep this up to accelerate away from doubts about the long-term future.
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Tesla now says it makes a 20 percent gross profit margin on the Model 3, which is up there with luxury trucks and cars, and higher than most cheaper cars. Much of it is due to selling higher-end, expensive models, like all-wheel drive and performance versions for as much as $77,000.
- Jack StewartJack Stewart,
Tesla Finally Turns a Profit, and Promises to Keep Doing It, October 24, 2018
Context 'Inexpensive Electric Cars May Arrive Sooner Than You Think''..integrating solar modules into the bodywork.''Nissan .. began production .. electric [vehicles]..' - '..Europe .. an upsurge in electric offerings..''..the first-ever 2000 horsepower (HP) electric class 8 semi-truck, called the Nikola One..''..to develop a series of electric and hybrid aircraft..''Companies Are Finally Learning To Share—The Open Source Way'(Tesla - Electric) - '..in the spirit of the open source movement..' - Elon Musk CEO of Tesla Motors