Tesla made $1.6 billion in the three months ending in September, the second quarter in a row that its profit has exceeded the billion-dollar mark. The

Tesla’s quarterly profit nearly quintuples to $1.6 billion as car sales surge.

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2021-10-20 21:30:04

Tesla made $1.6 billion in the three months ending in September, the second quarter in a row that its profit has exceeded the billion-dollar mark.

The bottom-line figure exceeded the $1.1 billion it made in the second quarter and was nearly five times its profit from the third quarter of 2020.

The automaker reported a big jump in revenue, to $13.8 billion from $8.8 billion a year ago, as sales of the Model Y continued to rise in the United States, China and Europe. The company delivered 241,000 cars to customers in the quarter, up from 140,000 a year ago.

Electric vehicle “demand continues to go through a structural shift,” the company said in a statement. “We believe the more vehicles we have on the road, the more Tesla owners are able to spread the word about the benefits of E.V.s.”

Tesla repeated a previous forecast that sales would grow about 50 percent per year on average for the next few years, but the company cautioned that “semiconductor shortages, congestion at ports and rolling blackouts have been impacting our ability to keep factories running at full speed.”