Tesla turned in a record third quarter, delivering 241,300 vehicles and strong revenue growth.
Tesla is the leading electric vehicle maker and has been growing rapidly, while at the same time dealing with the semiconductor shortage better than most automakers. The company’s third-quarter results were record-breaking on several levels, including the company’s best-ever gross profit, operating profit and net income.
The company’s total revenue grew 53% year-over-year in Q3, while operating income hit $2.0B. This resulted in a 14.6% operating margin.
The company sees its growth continuing to accelerate the more customers it gains and the more word-of-mouth marketing it benefits from.
EV demand continues to go through a structural shift. We believe the more vehicles we have on the road, the more Tesla owners are able to spread the word about the benefits of EVs. While Fremont factory produced more cars in the last 12 months than in any other year, we believe there is room for continued improvement. Additionally, we continue to ramp Gigafactory Shanghai and build new capacity in Texas and Berlin.