The problems with production have become a real challenge for Tesla this year. The results of the second quarter were not the best, and the losses totaled $293 million, However, the head of Tesla Elon Musk claimed that the worst is over, and even stated about stabilization. And his words were not empty. In the third quarter financial results exceeded analysts ‘ expectations, and Tesla has even returned to profitability.
The main reasons for the success of steel production improvement of electric cars, and increase its scale and improve the reliability of the products. The company not only introduced new products, but also increased the number of outlets. According to estimates Tesla, its cars together have managed to overcome more than 4.5 billion kilometers of roads, among which almost half using the function Autopilot.
In August, the company announced a new model Model S P100D, able to accelerate from 0 to 100 km/h in just 2.5 s. Also presented a car Model X P100DL, accelerates to 100 km/h in 2.9 s. last month, Tesla released an updated software Version 8.0 for the Model S and Model X, which includes improved navigation, a update multimedia functions, improves the ability of the regime “Autopilot”.
The volume of orders for Model S and Model X increased by 68% compared to last year. During the quarter, the company opened 17 new stores and service centers. The key to financial success was the increase in the production of electric cars to record levels. In the third quarter, Tesla released 25185 cars that on 37 % more compared with the second quarter and by 92 % in comparison with the third quarter of last year.
As at the end of the third quarter, the company launched 715 Supercharger stations worldwide, and the number of individual charging stations Supercharger network amounted to almost 4.5 thousand. 97 % of the population of the continental United States and 86% of the population of Western Europe are in the range of up to 240 km from the nearest charging station. Actively deployed infrastructure also in China, Japan and Australia.
Total Tesla revenues in the third quarter amounted to $2.3 billion, up 145 percent from last year. While gross margin for the quarter increased from 21.6 % to 27.7 %. Revenue from the automotive sector reached $2.15 billion On research and development spent $214 million to the Company delivered to buyers 24 821 car (16 047 8774 Model S and Model X). In addition, 5065 at the time of preparation of the report were in transit.
The company’s net profit was $22 million, which is undoubtedly a success.
Despite scepticism some analysts, Elon Musk assured that the fourth quarter will also be successful. Tesla is not backing down from his plan to deliver 50 thousand electric cars in the second half, that is, in the fourth quarter will have to ship another 25 thousand cars. The company also confirmed that the mass deliveries of the Tesla Model 3 will start in the second half of 2017.
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