Tesla sales surge 98%; company boosts margins on its less-costly models

  • 📰 TimesLIVE
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 59%

Canada News News

Tesla Inc posted a bigger second-quarter profit than expected on Tuesday thanks to sharply higher sales of its less-expensive electric vehicles, as it raised prices to boost its margins on them

Tesla also cut costs which helped it offset many of the supply chain and microchip shortfalls facing the auto industry.

Despite the pandemic and the supply chain crisis, Tesla posted record deliveries during the quarter, thanks to sales of cheaper models including Model 3 sedans and Model Ys.from $6.04bn Tesla said operating income rose with volume growth and cost reduction, which offset higher supply chain costs, lower regulatory credit revenue and other items including $23m Tesla's profitability has often relied on selling regulatory credits to other automakers, but in the second quarter, Tesla was profitable without these credits for the first time since the end of 2019. Its GAAP net income was $1.

Tesla said it said it has delayed the launch of the Semi truck programme to 2022 to focus on starting factories and due to limited availability of battery cells and other parts this year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I saw several people testifying of making so much money with the help of liam_garret21 on Bitcoin options trade and I dicided to gave a try and am gald he helped me and my colleagues to make allot of profit in one week , thank you for your transparency and trust

I'm happy to join those who are sharing the good news about shantelll_142 . I'm not persuading anyone to trade with her but i advise every investor to make the right choice with shantelll_142 i got my withdrawal safely without any interruption.

I saw several people testifying of making so much money with the help of Mr GaryCom89698109, and I decided to give it a try, and now am so happy it's real, he help me make R32,670 in a week. Send him a Dm now to get started. GaryCom89698109

Tesla elonmusk

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 28. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Tesla Tops Analysts’ Profit Forecasts as Auto Margins WidenTesla Inc. reported better-than-expected second-quarter earnings, as strong sales of its electric vehicles fattened margins and delivered $1 billion in net income, a milestone for the 18-year-old company. I'm happy to join those who are sharing the good news about liam. I'm not persuading anyone to trade with him but i advise every investor to make the right choice with liam_garret21 i got my withdrawal safely without any interruption.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Tesla Tops Analysts’ Profit Forecasts as Auto Margins WidenTesla Inc. reported better-than-expected second-quarter earnings, as strong sales of its electric vehicles fattened margins and delivered $1 billion in net income, a milestone for the 18-year-old company. I'm happy to join those who are sharing the good news about liam. I'm not persuading anyone to trade with him but i advise every investor to make the right choice with liam_garret21 i got my withdrawal safely without any interruption.
Source: dailymaverick - 🏆 3. / 84 Read more »