Tesla made a record profit


Tesla Model S
 

The American electric car manufacturer Tesla increased its net profit to a record $ 438 million (approximately CZK 9.4 billion) in the first quarter of this year, also thanks to sales growth. In the same period last year, its profit was only $ 18 million, Tesla is in "black" numbers for the seventh consecutive quarter.


The company's revenue increased nearly three-quarters year-over-year to $ 10.39 billion. They slightly exceeded the expectations of analysts, who, according to a survey by Refinitiv, estimated it at $ 10.29 billion. At the beginning of April, Tesla announced that its sales had more than doubled year-on-year to a record 184,800 vehicles in the first quarter.


However, Tesla did not make a profit just by selling cars, on the contrary, its financing continues to significantly improve the sale of various emission allowances, which it helps other manufacturers, such as in Europe or California, to meet CO2 emission limits. In the first quarter, Tesla earned $ 518 million them.


Tesla's result was also helped by the sale of the cryptocurrency Bitcoin. The company invested $ 1.5 million in it in February, after which it sold some bitcoins for 300 million. It made $ 100 million on it.


The carmaker today predicted that its sales will increase by more than half this year. Last year, it reported more than half a million cars.


It pointed out that this year it still expects to start production in new factories in Germany and Texas. In the case of the Berlin plant, however, the company still lacks the final approval of the local authorities.


Tesla, led by well-known businessman Elon Musk, reported its first full-year profit last year, despite the covid-19 pandemic. The company is now the most valuable automotive company in the world. At the same time, the volume of its production represents only a fraction in comparison with the production of leading traditional car manufacturers, such as the German Volkswagen Group.


Recently, however, he has also been facing problems with the highly automated Autopilot driving system. Two men, aged 59 and 69, were killed in a recent fatal accident in Texas in a Model S. According to initial information about the accident, no one should have sat in the driver's seat.


Tesla representatives denied these conclusions to investors when announcing the current financial results. According to the company's technical vice-president Lars Moravy, the steering wheel was deformed in the car, which is supposed to indicate that someone was sitting behind it after all. In addition, an inspection of the car revealed that the belts were not fastened, which should mean that Autopilot could not be activated. Elon Musk claimed this about the accident earlier on Twitter, saying that journalists reporting the accident was wrong and should be ashamed.


The statements of Tesla's representatives are therefore at odds with the claims of the local police. The investigation of the National Transport Safety Authority (NTSB) and the National Road Safety Authority (NHTSA) should bring official conclusions.

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