Late Stage Capitalism

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Tesla's dirty little secret: Its net profit doesn't come from selling cars (archive.is)

submitted 3 years ago by AgreeableLandscape@lemmy.ml to c/latestagecapitalism@lemmygrad.ml

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[–] Viking_Hippie@lemmy.world 3 points 1 year ago* (last edited 1 year ago) (1 children)

It is. Here's an article about their Q1 2023 revenue showing the same thing.

Edit: so they had one report of car sales AND energy projects outpacing the lowest amount of carbon credit income I've seen them get? Not really convincing me there..

[–] eramseth@lemmy.world 3 points 1 year ago (1 children)

Interesting. So the carbon credit business is growing and/or the car business is shrinking to the point that without the credits they aren't profitable again.

Tesla would be in the red were it not for carbon credits – something that hasn’t happened in the last two years.

[–] Viking_Hippie@lemmy.world 2 points 1 year ago (1 children)

Ok, so I misread that as being in the red hadn't happened for them in two years. Either way, they're a carbon credit and battery company that sometimes make shoddily built cars, not the other way around.

[–] eramseth@lemmy.world 2 points 1 year ago

No disagreement there.