Tesla posts highest-ever quarterly profits of US$1.6bn

American electric vehicle manufacturer Tesla has posted its third consecutive record quarter, taking in US$1.6 billion (AU$2.15bn) in profit from July to September.

As reported by the Wall Street Journal, the third-quarter profit is significantly higher than the same time last year, where Tesla posted a US$331 million (AU$444m) result for the July-September period – representing 480 per cent increase year-on-year and attributing to a total revenue of US$13.8bn (AU$18.5bn).

This was aided in part by a jump in vehicle deliveries over 2020, with 73 per cent more sales coming in the third-quarter of 2021 compared to the same period 12 months before.

Although it's unclear as to how many sales were recorded in Australia as it does not report in the same way as other carmakers via VFACTS data.

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While Tesla's Chinese plants have become the largest by output for the manufacturer, it hasn't been immune from semiconductor shortages, with Chief Financial Officer Zachary Kirkhorn telling the WSJ its factories haven't been operating at full capacity.

“Due to parts shortages and logistics variability, we have not been able to run our factories at full capacity,” said Kirkhorn.

“We have to overcome cost increases that are outside of our control."

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It is expected Tesla will deliver roughly 266,000 vehicles globally during the final quarter of 2021, attributing to an estimated total of just under 900,000 units for the year – nearly doubling its record 2020 figure of around half a million.

A new gigafactory just outside Berlin is set to open early next year, signifying the start of Tesla production in Europe with vehicles and batteries slated to be produced at the AU$7.87bn facility.

While Tesla continues to churn out the popular Model 3, its controversial Cybertruck keeps getting pushed back – with production now expected to take place next year. That's if the vehicle does indeed go into production after it was discovered features have been removed from the model's page on the company's website.