In recent months, the global car industry has faced an acute chip crisis, which has led to declining production and even the closure of many of the factories of major manufacturers around the world. However, the same cannot be said about the giant Tesla.
Elon Musk’s electric car company seems to be doing better than ever. While market rivals are suffering from a global shortage of chips, Musk is running out of business.
It also looks like the coronavirus pandemic isn’t having an impact on the billionaire’s company either, as this year’s revenue has broken new records.
Elon Musk returns the money with a shovel
The company’s financial figures Tesla shows that the brand of electric cars that revolutionized the industry is stronger on the market than ever.
The company reported Wednesday that it had a net income of $ 1.62 billion – five times more than in the same period last year.
Moreover, Tesla’s operating income increased by about 54% in the last quarter. Thus, they reached the impressive value of 2 billion dollars.
According to statements from within the company, from its directors, Tesla Model 3 in particular contributed to the lightning success. Model Y was also a basic pillar on which Elon Musk’s business was built in 2021, in an unfavorable context. for the entire industry.
Overall, deliveries increased in the third quarter of this year by 20% compared to the previous quarter and increased by about 70% compared to the third quarter of the previous year.
The future plans of the electric giant are in order. Elon Musk tends to be number one in this highly competitive industry. Looking ahead, the company expects to achieve an average annual increase of 50 percent in vehicle deliveries “over a period of several years” and, ultimately, to reach “industry-leading” operating margins.
However, there are concerns about the evolution of production at the end of the year, due to the fact that Tesla could face problems in the parts supply chain.
However, in the short term, “Q4 production will largely depend on part availability, but we are heading for continued growth,” Tesla Chief Financial Officer Zachary Kirkhorn said during the call.
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