Tesla posted a $139 million profit in the fourth quarter of 2018, the first time the electric car company has recorded back-to-back profits, in its 15 year history. In a jubilant investor letter , posted on Wednesday, explained it was only the company’s fourth profitable quarter ever. The California-based company also generated a record-breaking $7.2 billion in revenue for the quarter. “Last year was the most pivotal year in Tesla’s history. During our Model 3 production ramp, we went through significant challenges with the battery module line at Gigafactory 1 in Nevada, and later with our general assembly line in Fremont. Thanks to the hard work and ingenuity of our manufacturing teams, by mid-2018 we successfully overcame these challenges and stabilized Model 3 production at high volumes." Model 3 sells well across the US to boost profits "Model 3 then went on to become the best-selling passenger car in the US in terms of revenue in both Q3 and Q4. With nearly 140,000 units sold, Model 3 was also the best-selling premium vehicle (including SUVs) in the US for 2018 – the first time in decades an American carmaker has been able to secure the top spot,” the letter […]


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