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US electric car maker Tesla delivers record-breaking numbers – the Fifth quarter of profit

U.S. electric car maker
Tesla delivers record-breaking numbers – the Fifth quarter of profit

Tesla provides the fifth quarterly profit in a row and confirmed the objectives of its ambitious year. Photo: Ben Margot/AP/dpa

© dpa-infocom GmbH

The success of the E-car pioneer Tesla does not break down. The company defies the Corona-crisis and celebrates the best quarter of its history. Elon Musk is in a celebratory mood and wants to stick to its ambitious goals for the rest of the year.

The US electric car maker Tesla has posted the fifth consecutive quarter in the black, and its ambitious full-year targets confirmed.

In the three months to the end of September, has achieved a net profit of 331 million dollars (279 million Euro), the group of Tech billionaire Elon Musk, according to U.S. stock exchange, announced the conclusion of the in Palo Alto. So that Tesla increased the profit compared to the same period last year to 131 per cent.

Sales grew 39 percent to $ 8.8 billion and thus reached a new record value. Tesla exceeded expectations, the share price reacted after trading hours with a significant price increase. With the surprisingly strong quarterly numbers, Tesla is expanding its series of successes since founding in 2003, the company was never over so long a period of time profitable.

Tesla also reiterated, in spite of charges by the Corona of the crisis on the ambitious project to capture, in this year half a Million vehicles deliver. In the first three quarters of nearly 320,000 vehicles were brought to the clientele, 139.593 of them in the last quarter of the year. The year to reach the target of 500,000 deliveries, however, become more difficult, admitted Tesla in the annual report with a view to the Corona pandemic.

In the stock market, Tesla is already for some time the most valuable car maker in the world. Since the beginning of the year the share price that is up to 400 percent in the last twelve months by nearly 730 percent. Finally, the stock exchange value of Tesla in the case of 394 billion dollars. Thus, the E-car numbers-pioneer from Silicon Valley, despite much lower volumes, more than three times as highly traded as the two in market shares measured by largest US manufacturers General Motors and Ford. The German car companies, Tesla in the market value of miles is far superior.

For Tesla’s dazzling commercial-in-chief Musk, who operates on the side of the rocket company SpaceX, and many other projects, is the height flight is a Triumph. For years, his group wrote red Numbers, and the future seemed uncertain. Now, Tesla delivered a record operating profit – although the car market is groaning under the Corona of a crisis. “The third quarter was the best in our history,” said Musk after the presentation of the financial report in a conference unlock with financial analysts.

Tesla is pushing ahead with its international Expansion under the more vigorous, the production in Chinese factory in Shanghai to rapidly be ramped up. In addition, the construction of the first European factory in green Heath, the previous close to Berlin quickly, it said. Already in the coming year, Tesla will produce the first cars and deliver. In addition, the group wants to move quickly, another car factory in Austin, Texas, where the Compact SUV Model Y and the planned cyber truck from the tape to roll.

dpa
Matthew Velterhttps://etrendystock.com/
With 5 years of experience as an editor, Matthew has been a crucial part of eTrendy Stock since its inception. He looks after the editing of news content published on eTrendy Stock. Apart from investing his time in editing, he also provides well-researched news articles for the U.S. niche. Mathew studied at University of central Florida.

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