Tesla generated a slew of records in the third quarter of 2021 amidst continued industry disruption on a number of fronts, Kallanish learns from the company’s Q3 earnings review. 

The company produced a record operating profit of $2 billion with a 14.6% operating margin, yielding a net profit of $1.6 billion according to generally accepted accounting principles. 

Total company revenue was $8.77 billion, $7.61 billion of which came from the company’s core automotive business. 

“The third quarter of 2021 was a record quarter in many respects. We achieved our best-ever net income, operating profit, and gross profit,” Tesla says. “Additionally, we reached an operating margin of 14.6%, exceeding our medium-term guidance of ‘operating margin in low-teens.’”

The margin achievement is particularly impressive, the company says, as it pivots toward more mass-market vehicles. 

“EV demand continues to go through a structural shift,” Tesla says. “We believe the more vehicles we have on the road, the more Tesla owners are able to spread the word about the benefits of EVs.”

Tesla again bested its previous vehicle delivery high set in Q2, improving from 201,304 deliveries in Q2 to 241,391 deliveries in Q3. The Q3 figure is up 73% on-year. 

“A variety of challenges, including semiconductor shortages, congestion at ports and rolling blackouts have been impacting our ability to keep factories running at full-speed,” Tesla says. “We believe our supply chain, engineering and production teams have been dealing with these global challenges with ingenuity, agility and flexibility that is unparalleled in the automotive industry.”