Credit Tesla Gained this Year

Tesla has gone through many ups and downs since the previous few years due to electric cars. Thinking that it will be one of the cheapest cars ever, but it has some negative impact which affected the company.

Now, the company is not the same, it is rejuvenating and trying to become better than it was before. In the present year, in the present year, tesla stock (NASDAQ TSLA) earned a profit of almost $300 million this year.  This profit is more than in the previous years and more than in the previous quarters. It looks like people liking electric cars and the cars are hitting its side. The good news for the company is that the profit of the company is more and even double than the previous quarters even.

This profit cannot be said as completely profitable, because the company had to sell a few of its shares also which were no less than the millions.

Vehicles produced this year

As mentioned earlier, the company got a few positive impacts this year, as compared to the previous quarters. The profit means the electric cars were sold more this year compared with the previous year, that is 1,40,000 of the cars were sold.

There was profit and deliveries of 85,000 cars as compared to the previous quarter in the previous years. However, due to Covid 19 pandemic the company was shut for a few months which again caused loss and the company stepped backwards. Now, the company has to wait what will happen after a pandemic and whether the company and stock market will rise or fall.

It is believed that this quarter will be blowing and it will meet all the expectations and goals. It is believed that there will be more vehicles sold by the end of this year, as this goal was set by the CEO himself.

Moreover, new rules have been also added in the company like the first is that the customers will be able to return the vehicle if any issue is found in the car then the full refund will be given to the customer but only if it is returned within 7 days of selling. The warranty years of the car are also decreased from 5 years to 1 year for the saving of the fund.

The electric cars were not liked when they were launched because people were completely dependent on engine cars. But it feels like now people find it somewhat helpful and use it in a few places mostly in the auto-rickshaws, and taxis. You can check its income statement at before investing in its stock.