Tesla hails its second profitable year as a ‘breakthrough’
Image: Tesla Tesla's fourth quarter brought in a record windfall, as the company announced Wednesday that it turned a $2.3 billion profit.
It was the company's second year finishing in the black, but it significantly improved over last year's fourth-quarter profit of just $270 million. The company ended this year with $5.5 billion in net income, compared to $721 million in 2020. Tesla turned that profit on just over $17.7 billion in revenue and did it while its average sales price continued to drop due to the increasing popularity of the more affordable Model 3 sedan and Model Y SUV.
Tesla produced 305,840 vehicles in the fourth quarter, a 70 percent increase over the previous year. For the entire year, the company delivered 936,172 vehicles, just...