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.