Tesla achieves profits and in September sells more than Lexus in Europe
Tesla is living one of the more convulsive moments of his short history. After the invitation to Elon Musk to leave his presidency, it was intuited that the economic results of the firm would not be good. However, this has not been the case, since in the third quarter of the year they managed to sign black numbers . But in addition, they have confirmed that the deliveries of Model 3 are increasing.
According to the published report, Tesla achieved a net income of 312 million dollars in the third quarter. This is the first benefit in two years, which also has doubled while the production of Model 3 has increased. However, they have reached a free cash flow of 881 million dollars, reaching 3 billion dollars of immediate liquidity.
How has Tesla achieved these numbers?
The pillar that has helped Tesla to improve its financial situation has been the Model 3 . After the first problems in the assembly line, the current weekly production is 5,300 units. This volume not only includes the Model 3 of propulsion (RWD) but also adds the total traction (AWD). Thanks to this, the deliveries of the most economic model of the brand have multiplied, allowing its gross margin to be almost 20 percent .
Regarding the Model S and Model X , Tesla reported that
"In the third quarter , we deliver 27.710 model vehicles S and X to customers. While demand in China remains challenging due to an import tariff of 40%. Deliveries in China remain an important part of our deliveries in the third quarter, and we managed to compensate for the decrease there with growth in North America and Europe "
Precisely in Europe is where the American firm is taking more surprises. According to the European Automobile Manufacturers Association (ACEA) and analyst Matthias Schmidt, Tesla sold more vehicles last September than Lexus. However, in the cumulative year Lexus has 31,714 units , standing in front of Tesla in about 10 thousand, so they still have a lot of improvement in Europe.
Source - TeslaYou may be interested