NEW YORKUS electric vehicle maker Tesla on Wednesday announced a 20% increase in net profit in the second quarter from the same period last year, to $2.7 billion, thanks to sales driven by price cuts.
As analysts expected, these cuts eroded the operating margin of Elon Musk’s group, which fell to 18.2% from 19.3% in the first quarter. But its billing took off 47% to 24.920 million dollars and the company confirmed its delivery forecasts for the rest of the year.
Tesla built 479,700 vehicles in the second quarter, up from 258,580 in the same period of 2022 and compared to 440,808 in the first quarter of this year.
Its deliveries increased to 466,140 vehicles in the period considered, compared to 254,695 a year earlier.
“We expect to increase production as quickly as possible,” the group said in its results statement.
“Some years we will increase faster perhaps, and others, less,” he added. “By 2023 we expect to exceed” forecasts “with around 1.8 million vehicles in the year,” she confirmed.
“We have ample liquidity available to finance our product programming, long-term projects to increase the capacity of our plants and other expenses,” the company said.
FOUNTAIN: With information from AFP
