9 Dec, 2019 @ 13:36
1 min read

Tesla Spain profits soar despite CEO Elon Musk’s blunders, including calling British diver ‘pedo’ and smashing ‘indestructible’ Cybertruck

Tesla Spain

THE profits of Tesla Spain have surged by 93%, amid a series of high-profile blunders from billionaire CEO Elon Musk.

The subsidiary of the California-headquartered electric car company closed 2018 with a net profit of €373,286.

Turnover for the company at the end of last year stood at €32.24 million, marking a 4.6% decrease on the €33.82 million in 2017.

Its profit before taxes stood at €495,526 in 2018, which is a 106% increase compared with the year before.

Increases in Tesla Spain’s net and gross profits come despite selling just 306 units in 2018 – a 13% decline.

Tesla Spain
OOPS: Musk smashes the windows of his new Cybertruck in a demonstration

This has been explained by lower sales figures of the Model S, Tesla’s electric saloon, which boasts a battery life distance of 610km – the largest of any battery-powered road car.

With just 152 units shifted in 2018, there was a 27% drop in the vehicle’s sales, while sales of the seven-seater Model X  increased 8% to 154 units.

The news comes after a year of PR disasters for Musk personally, with the 48-year-old entrepreneur having been embroiled in a €170 million court battle.

He was being sued by heroic British diver Vernon Unsworth who rescued children from a Thai cave, after labelling him a ‘pedophile’ on Twitter, but has now been acquitted.

Meanwhile, Musk was also left red-faced after boasting in a keynote speech that the windows of the new Tesla Cybertruck were ‘indestructible’, only for them to be smashed with a metal ball moments later.

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