Tesla has just ended a 2 year long, predicted, loosing spree.
Remember Elon Musk, Tesla’s CEO, dropping an announcement on Twitter about a surprise during this months press conferences? It turns out that Elon’s surprise is pure profit in the third quarter of this year.
In 2015’s third quarter Tesla noted a loss of 230 million dollars, sold 70% less cars and the turnover was twice as low. This year’s third quarter came in at a turnover of 2.3 billion with a profit of 22 million dollars. This growth comes from the 24.500 cars sold by the brand, a number they’re expecting to match in the last quarter of this year.
This news couldn’t come at a better time with the arrival of the Model 3 next year (if it doesn’t get delayed). The brand needs new investments to realize this plan and in the world of investments, profit is a magical word.