Tesla has reported year-on-year sales growth of 98 per cent to $12 billion in the second quarter of the year.

The company said that it had produced and delivered more than 200,000 vehicles over the period, achieving an operating margin of 11 per cent.

Total gross profit was up by 128 per cent to $2.8 billion compared to the same period of 2020.

“Public sentiment and support for electric vehicles seems to be at a never-before-seen inflection point,” said the company in its latest financial results. “We continue to work hard to drive down costs and increase our rate of production to make electric vehicles accessible to as many people as possible.”

The electric vehicle business said that supply chain shortages, including global semiconductor shortages and port congestion, continued to be present in the second quarter of 2021.

“The Tesla team, including supply chain, software development and our factories, worked extremely hard to keep production running as close to full capacity as possible,” it added.

Tesla predicts that with global vehicle demand at “record levels,” component supply will have a strong influence on the rate of its delivery growth for the remaining months of the year.

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