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Elon Musk Congratulates Staff in His Letter: Was Tesla Able to Make a Profit Despite the Coronavirus?

By Urian , Jul 01, 2020 10:30 PM EDT

Elon Musk recently sent an email to all the Tesla employees thanking them for their "executing well" during this second quarter. There are spurring rumors of possible amazing record deliveries as well as small profit despite the ongoing global pandemic.

Just last week, Electrek suddenly reported that the company could possibly surprise with strong deliveries during the second quarter despite their own factory shutdown as well as a slow first half of the second quarter due to the international pandemic leading to certain restrictions that were placed resulting to a slower pace.

Tesla's earnings?

Earlier this current week, it was reported that Musk was telling employees that  Tesla could reach break-even in Q2 despite the ongoing difficult situation. As reported during that time, it was pretty dependent on Tesla being able to deliver about 10,000 vehicles in-transit during the last few days of the quarter.

Now that the recent quarter is over and another one begins, Musk had sent out another email towards his employees thanking each one of them for their hard work despite being "in such difficult times", but it was not actually confirmed if Tesla was able to break even like he previously stated it was possible earlier during the week.

The email noted that Elon Musk was amazed at "how well" everyone executed stating especially during "such difficult times". The billionaire ended his email saying that he is proud to be able to work with everyone.

Tesla is already expected to release to the public their delivery and production results for the current quarter later this week and it is still unknown if Tesla was actually able to make a profit despite the earnings results, which is still very likely to happen just later this month.

Read Also: Elon Musk Confirms Plans to Make a 7 Seater Tesla Model Y: How Much Longer Do We Have to Wait?

Electrak's perspective

Electrak shared their opinion about the ongoing situation stating that they believe that Tesla could have possibly been able to deliver over 90,000 cars within the quarter, which would definitely be amazing due to the ongoing global circumstances.

If they are able to reach a whopping 95,000 deliveries, which could possibly be a stretch, it would also match Tesla's own previous delivery record for the whole second quarter.

It was also stated that in comparison to most of the other automakers that are already seeing 30+% drop in their total deliveries in the second quarter which is due to the ongoing global pandemic, Tesla seems to be doing okay.

As for the discussion of breaking even or even landing a possible small profit, Electrak says that this is possible that they were able to deliver that kind of volume along with an increase in their own FSD package take rate.

The FSD package could have potentially been able to bring hundreds of millions to Tesla in the second quarter.

Read Also: Tesla New Feature Spotted? Model S is Testing Out Sensors for Autopilot!

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