For the first time in three years, electric car maker Tesla has reported it’s first profit – this is in direct comparison to last year which the company reported a loss of $230m.

What has Tesla done differently?

One major contributor is the amount of cars the company has shifted this quarter, something which has help make the manufacturing of the new Model 3 car easier on the company. In the past quarter Tesla a sold 24,821 cars – over 300 more than expected.

Model 3

Tesla’s next foray is the new Model 3, a less expensive and financially more accessible model in the range as the current two; Model S and Model X are reasonably expensive.

Tesla Model 3
Tesla Model 3

The Model 3 is expected to launch in 2018 and cost around $35,000 / £28,000.