Electric and energy company Elon Musk Tesla at the beginning of this week published another quarterly report. Real sales and profit figures have exceeded the expectations of even the most pro Tesla analysts.
But first, I want to remind our regular readers, and many of them are commentators of our articles, one fact from the past. You probably all remember very well how, a couple of years ago, analysts, political scientists, and their singers commenting on any article about Elon Musk and Tesla, very emotionally tried to convince everyone that Tesla is a loss-making company. At the same time, not understanding what capital investments are. They said that electric cars are a dead end. At the same time, no matter how they notice, the fact that all leading automakers have announced their development strategies, and the course is on electric vehicles. Today those «analysts» and the host of their commentators have quieted down, apparently counting on the fact that everyone will forget their «work». Well, well, they really can only be silent, because their catchphrase «That’s when Tesla ….» has already lost all meaning, because this «when» is already a reality of today.
Tesla reported $ 1.1 billion in profits for the second quarter of 2021 and made a record number of deliveries in the quarter. Tesla’s adjusted second-quarter earnings per share of $ 1.45 more than tripled from the same quarter last year and easily beat analysts’ expectations of $ 0.97 per share earnings. Total revenues were $ 11.96 billion, which was also higher than the projected $ 11.30 billion. This is Tesla’s 8th straight profitable quarter, and the first time its profit has crossed the $ 1 billion mark. The company’s operating margin was 11%, up from 5.7% in the first quarter of this year. The growth is almost 2 times. Operating margin shows how much profit a company makes per $ 1 of sales.
And this despite the fact that the entire automotive market in the previous months was periodically shaken by the chip supply crisis, and the uneven supply of batteries. But the demand for Tesla cars is so great that all the electric cars they produce are snapped up like hot cakes that just came from the bakery. In terms of absolute supply figures, Tesla set a new record in the second quarter of the year, selling 201,250 electric vehicles and producing 206,421 vehicles. That is, as you can see, there is no crisis of overproduction, and almost everything produced is immediately sold. Of course, the top sellers are the Model 3 and Model Y, with the updated Model S and Model X also contributing.
Note that Tesla has once again shown profitability, relying only on existing production facilities in California and Shanghai. But by the end of the year, factories in Texas and near Berlin will be fully operational, where test production is already underway in the existing workshops. This means that next year will be for Elon Musk’s company a year of growth exponentially in production, sales, and hence profitability.
It is difficult to say whether Tesla will be able to come up with sales in the region of 1 million cars by the end of this year. It is likely that the final figure will be somewhere nearby. But given the launch of two more plants in Germany, Giga Berlin and in Texas, Giga Austin, it can be predicted that by the end of 2022 we will be talking about Tesla’s sales of about 2 million vehicles per year. This forecast is based on the fact that the automotive market of Old Europe is not saturated with electric vehicles, and the demand for them is growing faster than the automakers can produce so far.
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