AutoBeta(AutoBeta.net)10/22 Report--

As the world's major car companies have released the latest performance reports, the Tesla brand, which currently accounts for the largest share of the electric market, also released its third-quarter results after trading on Wednesday, local time, with profits rising sharply year-on-year and exceeding market expectations.

According to the financial report, Tesla's revenue in the third quarter was $8.771 billion, an increase of 39% over $6.303 billion in the same period last year and 45% over $6.036 billion in the previous quarter. Tesla's net profit belonging to ordinary shareholders in the third quarter was $331 million, up 131% from $143 million in the same period last year. Earnings per share attributable to ordinary shareholders were $0.76, up 105% from $0.37 in the same period last year and exceeding analysts' average expectations of $0.57.

With Tesla's profits soaring again in the third quarter of this year, his company has made profits for five consecutive quarters and is expected to make profits for the first year. Although Tesla achieved performance growth in the third and fourth quarters of last year, his net profit was still in decline, with a net loss of $862 million in 2019 and a loss of $976 million in 2018. Last year's performance was still in the cause of losses, which was bearish by many institutions, including Buffett.

Tesla's profits have continued to grow this year, thanks to a significant increase in its sales. According to the delivery data previously released by Tesla, a total of 139300 new cars were delivered in the third quarter of this year, setting a new production and sales record, of which Tesla Model 3Unip Y produced 128044 vehicles, up 69 per cent from the previous month and 60 per cent year-on-year. Model Scarlet X produced 16992 vehicles, up 169 per cent month-on-month and 4 per cent year-on-year.

However, for the growing sales, the outside world is more concerned about whether the target of 500000 vehicles set by Truss this year can be met. According to Tesla's cumulative sales this year, it has now completed 31.84 vehicles. If the delivery target set at the beginning of the year is 500000 vehicles, that is to say, Tesla's delivery volume needs to exceed 181700 vehicles in the fourth quarter, but there is obviously still a lot of pressure to raise the level of 40, 000 vehicles in the fourth quarter.

In response, Tesla said that the company already has the capacity to produce and deliver 500000 new cars a year, which is still the target for this year. Achieving this goal in the fourth quarter mainly depends on the month-on-month improvement in data from Model Y and the Shanghai plant, while the company also needs to further improve logistics and delivery efficiency at a high delivery level.

Tesla revealed that the current Shanghai super factory, Model three-year production capacity has reached 250000 vehicles, Model Y is expected to start production in 2021 and start delivery at the beginning of the year. Model Y production in Fremont, Calif., is expected to reach full capacity by the end of this year or early next year.

It is not difficult to see that the sales target of 500000 vehicles has a lot of pressure on Tesla, but in order to accelerate the improvement of the sales target, its officials have made a lot of plans to achieve it, including the price reduction of domestic Model 3 and the upgrade of Model Y final assembly line.

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