Tesla posts first profit in two years

This month is found to be a good one for tesla. Last week, the company has announced its layout for the future. The company announced that all the cars will have auto driven feature and will contain all the hardware that are used in it. Today the company will announce about the solar panel filled roof for that car.

It is also reported that the model S sales has been increased 59% over the last years. The company has posted its profit of the third quarter of the 2016 and it is around $21.9 million.

The company also posted that there is the good increase in the production numbers, deliveries and overall revenue. Tesla written to its shareholders about increasing orders of the Model S and X grew are 68% as compared to the last year.Production is also increased by 92% as compared to last year and 37% over the third quarter.  The company has delivered and completed its goal of producing 50,000 cars for the second quarter of the current year.

The revenue is also increased almost 145% as compared to the third quarter of last year, which is increased $2.3 billion, which will minimize the stress about the $2.6 billion to get SolarCity.

The automaker has realized that there will be an increase in profit if company revealed Model 3 in Late 2017. The company shareholders said that:

” WE HAVE COMPLETED PRODUCTION LINE LAYOUTS AND WILL SOON BEGIN THE INSTALLATION OF NEW BODY WELDING AND FINAL ASSEMBLY LINES”

Off course, you will not get the product before 2018, if you have made a pre-order. When it was asked whether the company will share its driving data with other automakers, Musk said,

“WE’D BE HAPPY TO SHARE INFORMATION THAT WOULD IMPROVE SAFETY.”

Tesla has announced that the company has not still decided to begin the cell production at Giga factory late this year. So it is expected that the deliveries will be made at the end of 2017.