Automaker Tesla disappoints | Financial

Despite the fact that the stock market value of the American company has been on the rise for a long time and that CEO Elon Musk is now the richest person on earth, the company has never ended up in the black figures.

At the bottom of the line, Tesla was left with $ 721 million, against a net loss of $ 862 million in 2019. But the company does not owe this purely to the sale of luxury cars. Tesla also made a lot of money last year selling emission rights to other automakers.

These colleagues in the industry thus avoided heavy fines from, for example, the European Union, because otherwise they would not meet the ejection requirements. Tesla’s own electric cars do not emit CO2 and therefore Tesla does not really need the rights.

The company from Palo Alto, California, had previously released sales figures. Last year, Tesla just failed to meet its own target of selling half a million cars. Before that, the company was 450 deliveries short. Nevertheless, Tesla was good for an annual turnover of $ 31.5 billion, which equates to a growth of 28 percent.

Despite the first full year profit and strong sales growth, the figures were not well received by investors on Wall Street. In the so-called after-market trading on the New York stock exchange, the Tesla share fell sharply. Analysts had predicted a slightly stronger earnings figure for the last three months of 2020.

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