DETROIT – Charged up by strong sales of its electric cars and SUVs, Tesla on Monday posted its seventh-straight profitable quarter.
The company made $438 million in the three-month period that ended March 31, as sales more than doubled the same period last year to nearly 185,000 vehicles.
All but 2,000 of the sales were lower-priced Model 3 sedans and Model Y SUVs. Tesla said it didn’t produce any of its higher priced Model S sedans and Model X SUVs as it switched to new versions during the quarter.
The Palo Alto, California, company faces challenges as it tries to reach its second-straight annual profit this year. There’s a global shortage of semiconductors that’s forcing automakers to idle factories, and Tesla is facing renewed scrutiny