Tesla smashed through expectations with its first earnings call in 2021. This is the best first-quarter earnings in the company’s history.
Tesla announced that it produced over 180,000 vehicles in the first quarter of 2021 and delivered 185,000. A vast majority of these were Model 3 and Model Y cars, with only 2,020 Model S/X vehicles sold.
This boosted the company’s revenue to $10.39 billion USD (about $12.9 billion CAD), which is up 74 percent compared to the first quarter of 2020. This resulted in $438 million USD (about $543 million CAD) in profit.
The company also announced that it’s going to start producing the new Model S and Model X vehicles with the yoke steering wheel very shortly.