First profit in 2 years' time for Tesla

Thanks to record sales, the American car manufacturer Tesla finally managed to have a profitable quarter.

22 million dollar profit

In its third quarter, Tesla sold 24,500 cars, up 70 % compared to the quarter before. Tesla’s turnover grew 145 % to 2.3 billion dollars (more than 2.1 billion euro) and that resulted in a profitable quarter. 22 million dollars (20 million euro) remained as profit, quite a huge turnaround compared to the 230 million dollar loss it suffered in the same quarter last year.

It is therefore no surprise that founder Elon Musk labeled it the “best quarter” since the company’s foundation in 2003. He expects profit next year as well, which will be required if it is to quickly earn back the investment for its new Tesla Model 3. The company says it has already received almost 400,000 orders for its new, electric “middle-class” car. The first cars will leave the factory in the second half of 2017.