Elon Musk’s acquisition this week of the social media platform Twitter underlined the incredible recent success of his Tesla car company – the electric car specialist announcing a record first quarter profit of US$3.32 billion, delivering 310,000 cars worldwide in the period with total revenue of $US18.8 Billion, up from $10.4 billion in the same period last year.

Tesla’s first quarter profit marked its 11th quarterly profit result in a row after sustaining accumulated losses of $5 billion in the period 2011 to 2019. Whilst Tesla is the largest global manufacturer of electric powered vehicles its overall sales are modest compared with Industry leader Toyota who sold more than 2 million vehicles globally in the first three months of the year.

However, Tesla is the world’s biggest automotive manufacturer by market capitalisation valued at one trillion dollars more than Toyota, VW, Hyundai, Mercedes, BMW, Ford and Ferrari combined.

I’m David Berthon.

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