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

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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.

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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 »