survived Tesla Corporation The past two years have been doing well in terms of production and deliveries of its electric vehicles, despite the global pandemic and the recent economic downturn. However, there is a more bright side in its recent business results, as following a few quarters of a decline in the profitability of the company’s side business, the results of the second quarter revealed a good representation of this business in the profits of the electric car maker.
A graph prepared by the German data company “Statista” and seen by “Al Arabiya.net” showed that the “services and others” sector contributed $56 million to the company’s total profits, although Tesla does not specify the included services. Its endeavors to sell and install solar panels and Powerwall energy storage solutions also turned profitable following a net negative last quarter, where the company earned $97 million, an increase of 385 percent year-over-year.
Unsurprisingly, electric vehicle sales were the dominant player in earnings, accumulating $3.9 billion in profits, including $344 million in regulatory credit income between April and July.
Tesla is not only the world’s leading electric vehicle manufacturer, but it is also the fastest growing brand worldwide. In 2021, it produced and delivered more than 940,000 vehicles, an increase of 87% over 2020. Its largest competitors in the EV market in terms of total unit sales for 2021 are General Motors, SAIC, Wuling, BYD and Volkswagen.
Tesla earnings
