Tesla Motors Inc. (NASDAQ: TSLA) announced that its most recent quarter would be profitable, and its shares rose 19% to $45, which is above its 52-week high. The electronic car company is still in a horrible business. It sold more than 4,750 cars, or units as it calls them. There is no economy of scale at that level, which is what eventually will doom the company.
Elon Musk, Tesla Motors co-founder and CEO, said:
I am incredibly proud of the Tesla team for their outstanding work. There have been many car startups over the past several decades, but profitability is what makes a company real. Tesla is here to stay and keep fighting for the electric car revolution.
That revolution already has ended, as global electric car sales have faltered, buried by clean diesel, falling gas prices and a clear preference among buyers of hybrids for the Toyota Motor Corp…
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