Tesla’s average cost fell below 38,000 USD which is 55% lower than 2017

Electric car manufacturer Tesla stated that in the first quarter of 2021, the company’s average cost per car was less than US$38,000, while the average cost per car in 2017 It is 84,000 US dollars. Tesla revealed that in 2017 when the company began to produce Model 3, the average cost per car was about $84,000.

However, due to the launch of new products and the construction of new factories, as well as the reduction in the ratio of Model S to Model X, the company’s average cost per vehicle fell to less than $38,000 in the first quarter. More importantly, compared with a few years ago, Tesla has successfully reduced the price of cars it sells now.

On Monday local time, Tesla released its first-quarter 2021 financial report. The financial report shows that the company’s revenue and profit in the first quarter exceeded Wall Street expectations, mainly due to record deliveries, strong demand in the Chinese market, a surge in sales of environmental protection points, and the sale of some bitcoins.

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It is reported that Tesla sold 10% of its Bitcoin holdings in the first quarter of 2021, making a profit of $272 million. This portion of bitcoins only accounts for a small part of the total amount of bitcoins valued at $1.5 billion held by the company.

Since Tesla’s first quarter of 2021 results have reached the target set by the company’s board of directors, the company’s CEO Elon Musk will receive two option awards worth a total of 11 billion U.S. dollars.

At present, the problem of chip shortage has caused an impact on global automakers. Although the problem hit Tesla’s competitors in the auto industry, the company’s deliveries in the first quarter still set a new record, but the company’s profits were not driven by car sales.