A second successive profit-making quarter (PDF) has been posted today by California carmaker, contributing another billion to their cash reserves of $6.2 billion. Tesla’s Model 3 lending is primarily in the rest of the world— albeit slowly growing US deliveries, about half of its 300,000 in 2019 came to Europe and China as well.
Tesla reported more stable earnings, cost reductions, increasing sales following years of recession, and limited its chief executive Elon Musk from threats of company closure. After two years of moderate performance, 12 percent of the stock exceeds analysts ‘ expectations.
As Tesla claimed, the company is now approaching its large scale production stage, as a “turning point” in 2019. As it rebuilds into a worldwide automaker, the relevance of the original brands X and S reduces. According to an analyst report by equity research company Wedbush, Tesla currently seems able to deliver 500,000 cars this year (most of which are Model 3 sedans and the future Model Y SUV, etc.) and a million by 2022.