Tesla Just Solved Its Second-Biggest Problem
Tesla's first-quarter deliveries were lackluster, but its electric vehicle business is showing signs of recovery with improving profitability. The company's gross profit per vehicle delivered was $9,558, up from $8,000 in the prior quarter.
Tesla's first-quarter results were disappointing due to lackluster deliveries, but the company's electric vehicle business is showing signs of recovery. The gross profit per vehicle delivered was $9,558, up from $8,000 in the prior quarter. Earnings before interest, taxes, depreciation, and amortization per delivery also improved to $10,245. Tesla manufactured 408,386 battery-electric vehicles last quarter but delivered only 358,203, resulting in a production/delivery disparity. The company's top line of $22.4 billion slightly missed consensus estimates. Tesla's electric vehicle business remains its breadwinning business, and its improving profitability is a positive sign.
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