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Tesla did not venture to forecast for the current financial year, also because of the crisis and lockdown measures. Yet a surprisingly positive first-quarter result as many automakers suffer from the corona crisis. Profitability improved especially after Tesla's Chinese Gigafactory was in operation. This ensured, among other things, that cars were cheaper to make. 

Gross profit came in at $ 1,2 billion despite lockdown measures. That meant an annual increase of 118 percent. An amount of $ 16 million remained under the line. Tesla had previously reported that nearly 88.500 cars were delivered last quarter, 40 percent more than a year earlier but a fifth less compared to the closing quarter of 2019. Production was increased to 102.672 cars, compared to 77.138 a year ago.

However, the result was overshadowed by statements by CEO Elon Musk, who called the lockdown measures “fascist”. During a telephone explanation of the figures, Musk called the lockdown, which means that the factory must remain closed, a "serious risk" for the company. On his Twitter account, Musk announced that the stock price of his company is “too high”. It soon had an effect on Tesla shares: the value fell by thirteen percent, but then rose again a little.

Also read: Tesla starts production of respirators

Tesla Model S
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