Tesla has sold enough cars and energy products to make a profit even without counting the sale of allowances to other car manufacturers — a milestone for the company. This was the eighth profitable quarter in a row for Tesla, but the first where it can truly say it is a profitable automaker.
Tesla shared monday that it posted a profit of $1.1 billion in the second quarter of 2021, of which $354 million came from credit sales. The rest came from car sales and an increase in energy storage sales.
Tesla pulled it off despite a $23 million loss on its big Bitcoin bet (something that helped drive it to profits last quarter), a delayed rollout of the revamped Model S sedan and Model X SUV, and the global shortage of cash. semiconductors. All told, Tesla generated revenue of $11.9 billion in the quarter.
The Model 3 sedan and Model Y compact SUV once again dominated Tesla sales, proving once again that there is a market for more affordable electric cars. Tesla shipped more than 200,000 Model 3s and Model Ys in the quarter, compared to 1,895 Model S sedans sold.
It’s clear that Model Y’s initial success was enough to give the company a boost, but it’s hard to say exactly how big that boost is, as Tesla doesn’t break sales by individual model. Same with China. Tesla does not divide sales by country, but has been supplying locally made cars from its factory outside Shanghai for over a year, and that has helped the company grow its business.
Tesla will have even more capacity when it starts making vehicles at the two plants it builds in Texas and Germany. While the latter has been slow due to environmental violations and red tape, Tesla’s Texas factory is being built almost as fast as the factory the company has built in China. Not only do these other factories reduce the cost of selling cars in a particular region, they also offset the fact that Tesla’s original factory in California has been virtually at its limit for a while.
It’s the scale of that expansion into a truly global automaker that has finally allowed Tesla to go into the black, even without the help of regulatory credits — something Tesla needed to prove it can do, given the automakers. to which it has sold these credits for years to now build electric vehicles and no longer have to buy legal compensations.
However, the growth of the auto industry to a global scale has come at the expense of a number of other projects, as Tesla shared on Monday that it has again postponed the launch of its Semi truck until 2022.