Tesla posts fifth quarterly profit in a row

Automaker Tesla has closed a quarter with profit for the fifth consecutive time. In the three months to September, the maker of electric cars put a gain of $331 million in the books. Furthermore, the company is on course to deliver half a million cars this year.

With the profit rate, the company of founder and top man Elon Musk exceeded the expectations of analysts. Tesla did so with its sales of nearly 8.8 billion dollars, where $6.3 billion was raised a year earlier.

Earlier, Tesla expected to deliver 30 to 40 percent more cars this year compared to 2019, allowing the company to ship more than 500,000 models for the first time. Because of the impact of the coronacrisis, Tesla more moderated its tone.

Emissions allowances

In the last months of the year, Tesla still needs to deliver at least 181,000 cars to meet its target. That would mean an increase of 30% on a quarterly basis. Tesla stressed that achieving the goal has become a little more difficult lately. Similarly, the company maintains its ambition.

At the

beginning of this year, before the coronapandemic erupted, Tesla had no doubt about the intended purpose of half a million cars delivered. This would mean an annual increase of 36%.

By the way, Tesla earns its money selling allowances to industry mates who dont yet meet emission standards in regions like Europe and California. Investors would like to know if the company can make and sell its cars profitable.