Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • Debbie Young
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool

Tesla Posts Record Quarterly Profits

April 21, 2022 By The Editors

By temp-64GTX @Shutterstock

At The Wall Street Journal, Rebecca Elliot reports that Tesla posted a greater-than-sevenfold increase in first-quarter profits to reach a record. The company could boost vehicle production this year despite supply chain bottlenecks and disruptions in China from COVID-related lockdowns. She writes:

Tesla Inc. (TSLA) posted a greater-than-sevenfold increase in first-quarter profit to reach a record as Chief Executive Elon Musk said the company could boost vehicle production more than expected this year despite supply-chain bottlenecks and disruptions in China.

Mr. Musk on Wednesday said Tesla likely would produce more than 1.5 million vehicles in 2022, up some 60% over last year. The company’s long-term goal is to increase vehicle deliveries by an average of 50% annually. Production in China would recover strongly, he said.

The world’s largest car company by value is recovering from a shutdown at its Shanghai factory, where work was suspended March 28 because of strict government measures meant to slow the spread of Covid-19. Tesla said it lost about a month of production from the shutdown.

“We remain confident of a 50% growth in vehicle production in 2022 vs 2021, we actually have a reasonable shot at a 60% increase over last year”. – Elon Musk

“Shanghai is coming back with a vengeance,” Mr. Musk said as the company reported that sales in the first three months of the year had jumped roughly 80% from a year earlier to $18.76 billion, generating a record profit of $3.32 billion. That topped the previous high of $2.3 billion set in the preceding quarter. Results beat Wall Street’s expectations for both sales and profit.

Related Posts

  • Pandemic Spending Pushes Amazon Profits to Record
  • Apple Increases Its Dividend by 7% on Record High Profits
  • Donald Trump’s Bragging Record
  • Happy Monday From The Record Company
  • Author
  • Recent Posts
The Editors
Latest posts by The Editors (see all)
  • Florida Seeks to Expand the Protection of Children - March 23, 2023
  • Bolton Says U.S. Should Have Attacked Iran as well as Iraq - March 23, 2023
  • Carlson: The Media Are Part of the Control Apparatus - March 22, 2023

Dick Young’s Must Reads

  • Why Black Lives Matter Needs to Be Shut Down
  • The Armed American Family: Part I
  • DIGITAL DOLLAR DOOMSDAY: The Wall Street Journal Is NOT Going to Tell You This
  • Why Investors Should Forget Prices and Focus on Income
  • You’ve Read The Last Issue of Intelligence Report, Now What?
  • A NEW CONTRACT WITH AMERICA: Rick Scott Finally Gives the GOP Something to Run On
  • Your Odds with Statins: 500 to 1?
  • The Simple, Elegant Power of the Retirement Compounders
  • Who Is Alex Jones?
  • Escape From the City: You’re Going to Like What You See

Our Most Popular Posts

  • Pushing Back at ESG
  • Your Survival Guy’s BEST Insider’s Guide to Key West
  • Are You Fairly Wealthy? I’m Listening
  • Who'd be Nuts Enough to Have Put Money into SVB?
  • Cheap Reliable Heating – a Life Saver
  • Biden Has Lost Control of the Northern Border Too
  • Get Well Soon Taki
  • For Whom Is Your Portfolio Serving?
  • Border Patrol Chief Admits U.S. Border Is Out of Control
  • SPIES ON CAMPUS: The Chinese Have Invaded the Quad

Disclosure

RSS Youngresearch.com

  • If You’re a Highly Effective Person, We Should Talk
  • Trouble Now Brewing at Deutsche Bank
  • Is Vanguard Voting Against Your Political Beliefs?
  • Are 0DTE Options a Threat to Markets?
  • “I Need Preservation of Principal and Growth”
  • Are You Fairly Wealthy? I’m Listening
  • Treasury Studying How to Increase Deposit Insurance
  • Your Survival Guy’s BEST Insider’s Guide to Key West
  • For Whom Is Your Portfolio Serving?
  • Who’s to Blame for Banking Vulnerability?

RSS Yoursurvivalguy.com

  • If You’re a Highly Effective Person, We Should Talk
  • What’s Happening to Charles Schwab?
  • Prepare for the Predictable
  • Is Vanguard Voting Against Your Political Beliefs?
  • Call It the Difference between Normal and Crazy
  • “I Need Preservation of Principal and Growth”
  • DEMOCRATIC SENATOR: Biden’s ESG Veto “Absolutely Infuriating”
  • Are You Fairly Wealthy? I’m Listening
  • How Long Is Your Water Supply Chain?
  • Your Survival Guy’s BEST Insider’s Guide to Key West

Biden’s Fake Democracy Summit: Hungary and Turkey Snubbed

Freefalling at Stanford

If You’re a Highly Effective Person, We Should Talk

DONBAS: Russian Tanks Face Gauntlet of Death from Javelin Wielding Ukrainians

Do You Know How to Slow Your Brain’s Aging?

We’ll Burn the Place Down!

Copyright © 2023 | Terms & Conditions | About Us | Dick Young | Archives