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Reviews Record profits for Tesla in the third quarter

02:30  21 october  2021
02:30  21 october  2021 Source:   pressfrom.com

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Bénéfices record pour Tesla au troisième trimestre © Tesla Record profits for Tesla in the third quarter The turnover of the company reached $ 13.76 billion, up 57% and above the forecasts of analysts.

Tesla continues to break records. The manufacturer of electric vehicles announced, Wednesday, October 20, having multiplied by more than four net profit in the third quarter thanks to a strong increase in sales. The company had already announced having delivered a record number of 241,300 vehicles over the period. ELON MUSK Group has managed to increase its production despite the scarcity of electronic chips and the supply difficulties in certain products, which disrupt the automotive sector.

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"We continued to face the third quarter with supply, transportation and various production concern problems," said the group in a statement. "We continue to operate our production lines as close to their full capacity that conditions permit", is it added. The company's turnover reached $ 13.76 billion, up 57% and above analyst forecasts (13.62 billion).

Constant forecasts

The net profit of the company reached $ 1.6 billion over the period. Excluding exceptional and shareholding items, the profit was $ 1.86, exceeding expectations (1.58 dollars). The increase in operating profit is "mainly related to the growth of vehicle volume and cost reduction," said Tesla . The group, who created the surprise at the beginning of the year by announcing bought $ 1.5 billion in Bitcoin, however again saw this investment weigh on its results.

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after winning $ 101 million in the first quarter thanks to the virtual currency, the group had to record a charge of 23 millions in the second quarter and $ 51 billion in the third. Tesla also continues to see the profits drawn from the sale to other carbon credits that are granted because its cars do not emit pollutants: the revenues generated by these operations reached $ 279 million. Quarter, compared to $ 354 million in the second quarter and 518 million first.

The automaker, which announced in January to want to grow its 50% shipments per year for several years, has not changed this forecast. "The growth rate will depend on the capacity of our equipment, the effectiveness of our operations and the stability of the supply chain," said Tesla.

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