Tesla earned a profit of $1.1 billion after delivering 201,250 cars in Q2

Enlarge (credit: Tesla / Aurich Lawson)
Earlier in July, Tesla announced that it delivered 201,250 electric vehicles in the second quarter of 2021. On Monday, the US automaker filled in the rest of the gaps with its Q2 financial disclosure. Q2’s deliveries were a record for Tesla, earning the company $1.1 billion in profit. Tesla ended Q2 2021 with $619 million in free cash flow and $16.2 billion in cash and cash equivalents.
Tesla said in its presentation to investors that its output and deliveries were significant factors in the profitable quarter. The company also said it successfully launched a subscription to its highly controversial FSD feature, where owners can pay $199 per month for the driving assist feature as opposed to a single payment of $10,000. And regulatory credits made a much smaller contribution to the bottom line in Q2 at just $354 million.
We reported Tesla’s Q2 production results when they were announced several weeks ago, but to recap: the company built 2,340 Models S and X and delivered 1,890 of them, 18 percent of which were leased. The cheaper mass-market Model 3 sedan and Model Y crossover did the heavy lifting in Q2. Tesla built 204,081 of these models, delivering 199,360 of them. (Seven percent of Models 3 and Y were leased.)Read 4 remaining paragraphs | Comments
Source: Car news one

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