Tesla sales on record high; 5th straight profitable quarter

Tesla records highest sales; 5th consecutive profitable quarter

Tesla delivered 1,39,593 cars in the 3 months ending September. That's a growth of 54% compared to the last quarter and 44% on YoY basis.

Total sales for the current year stand at 3,20,000. While these are far from the company's goal of 5,00,000 deliveries a year, they are significantly better than the expected numbers especially during the current Covid-19 pandemic. This has also helped the company's quarterly profit which now stands at US$ 311 million. This is more than twice the profit declared in the same quarter last year. Tesla reported revenue of US$ 8.7 billion for the quarter ending September.

Tesla shares have also increased 4 times since the beginning of 2020. The electric carmaker now has the largest market value amongst any car manufacturing firms including rival Toyota. The carmaker currently has 2 manufacturing facilities - one each in the USA and China, while a third factory in Europe is scheduled to commence production in 2021.