Unlike many established manufacturers, electric car manufacturer Tesla has had very good results for the company in the past few months that have been shaped by the coronavirus crisis. Car expert Ferdinand Dudenhöffer was impressed in a comment on the online career network LinkedIn – and warned the competition to make greater efforts. Volkswagen CEO Herbert Diess also sees Tesla as a pioneer.
While almost the entire car world “sinks into losses” in the second quarter of 2020, Tesla makes $ 327 million in operating profit, according to Dudenhöffer. Classic car manufacturers need to get faster, Tesla boss Elon Musk is currently setting the pace for the automotive industry.
The US manufacturer recently released its latest Quarterly figures published, according to which the company was in the black for the first time in its history over 12 months. Previously, losses had mostly been incurred because Tesla has been investing heavily in new products and international expansion for years. Turnover is still significantly below that of car giants such as Toyota or Volkswagen, but Californians are currently valued much higher on the stock exchange than the rest of the industry.
“Elon Musk delivers results that many did not consider possible. They show that electric cars can be profitable, ”said Volkswagen boss Herbert Diess in a reply to Dudenhöffer’s LinkedIn contribution. As one of the few car manufacturers – including the Volkswagen subsidiary Porsche – Tesla will come through the corona crisis without a loss quarter, according to the German car manager. This confirms his conviction that the most valuable company in the world will be a mobility company in five to ten years – that could be “Tesla, Apple or Volkswagen AG, …”.
This has often been positive about Tesla and its CEO Musk in the past. With Volkswagen’s investments in billions, he is driving the most comprehensive electric car offensive in the industry, but not everyone is convinced of the strategy. Tesla’s soaring high on the stock exchange and the increasingly convincing business results of the e-car company are backing Diess for his plans.
It remains to be seen how quickly Volkswagen can catch up with Tesla’s lead. The new compact car from Wolfsburg designed as an electric car ID.3 already comes close to the industry-leading Stromer from the USA – but only with the drive. The high level of digitalization and networking of future Volkswagen Group cars, also prioritized by Diess, is still stalling. In terms of software in particular, Tesla is many years ahead – that concedes also the Volkswagen boss a.
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