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DETROIT (Reuters) – The Tesla Inc. Model 3 sedan is the most profitable electric car in the automotive industry, according to the head of a major automotive consultant.
Sandy Munro, president of Michigan-based Munro & Associates, said the car generates profit margins of over 30 percent. Munro, whose company demolished Model 3 to better understand it, commented on an appearance Monday on Autoline, an auto-based television show.
In previous episodes dealing with Model 3, Munro had criticized the fit and finish of the car, but had praised his maneuverability on the road.
"Model 3 is profitable, so I have to eat raven, I did not think it would happen that way," he said on Monday. "No electric car gets 30 percent net, nobody."
Munro could not be reached by Reuters for comment on Tuesday.
Tesla, whose shares were up 1.7% to $ 315.42 Tuesday morning on the Nasdaq, pushes to increase production of Model 3, which starts at $ 35,000 and is key to the profitability of the Car manufacturer. The company burned money to produce model 3.
The Munro firm has done work for several automakers and is also closely watched in the community of analysts.
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