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Tesla says it has posted a profitable July


In a time when making profits have become rarer than finding a needle in a haystack, Tesla seems to have bucked that trend with a strong showing in July, resulting in $20 million in revenues and $1 million in profit.

It seems improbable for an automaker to be making any sort of profit these days, much less an electric car brand. But against all odds, Tesla seems to have done it.

The company’s profit came as a result of extraordinarily strong month for Tesla, a month where they shipped 109 cars to reach their profit threshold.

Despite Tesla saying that they reached their ‘overall corporate profitability’, there remains a cloud of uncertainty as to how Tesla managed to do it. It’s also worth noting that selling 109 cars at $109,000 a pop falls far short of $20 million. Nevertheless, Elon Musk, Tesla’s CEO was predictably thrilled regarding Tesla’s performance. "We achieved a bottom-line profitability thanks to a tremendous amount of hard work by the Tesla team to improve quality, while simultaneously reducing costs on the Roadster,” he said.

Continued after the jump.

Source: CS Monitor

He also adds: "This also shows that there is strong demand for a car that is unique in offering high performance with a clean conscience. Moreover, customers know that in buying the Roadster they are helping fund development of our mass market electric cars."

We don’t know the extent of what Musk and Tesla are saying regarding their supposed profitable month, but we’re also not the type to hold any sort of judgment. We just hope that they’d shed more light on this matter.




2 comments:

I find it amazing that Mr. Musk started this company (everything from factories to employees to Roadster development) for only $120 million.

Great Company.

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