Rising sales for Tesla resulted in a fourfold increase in operating income for the company — via drivingdotca
While Tesla is still by far the world’s biggest automaker by market value, its shares have declined almost 7 per cent this year. More established peers including General Motors and Ford have rallied as they have laid out plans to more aggressively push into the nascent EV market.
“The global chip shortage situation remains quite serious,” Musk said on the call. “It does seem like it’s getting better, but it’s hard to predict.”Tesla’s second-quarter revenue almost doubled to US$11.96 billion last quarter, beating analysts’ estimates of US$11.36 billion. Revenue from the sale of regulatory credits — used by other automakers to offset greenhouse gas emissions — totaled US$354 million, down from US$518 million in the first three months of the year.
Tesla pushed back the start date for its Semi truck, first unveiled in 2017, yet again to next year. Production of its highly anticipated Cybertruck pickup will follow the Model Y in Austin, but Tesla didn’t provide further details.
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