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Who cares how many Bolts are sold, if the average Tesla sells for two or three times as much. As they used to teach in business school, its not your share of the market that counts, its your share of the market's profits. Also, maybe no one is making a profit yet but the point is, if you can charge a lot more than your competitor you don't have to outsell them in units.

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In their earnings call last week, Tesla said that their margins on existing vehicles were dropping, and they were diverting resources from the Model S and Model X to focus on the Model 3.

https://news.ycombinator.com/item?id=15605480

Even dropping, Tesla’s margins are still higher than legacy automakers.

Except that they use wildly different accounting practices than the rest of the industry to make their numbers look better. For example, they don't include the cost of R&D (like every other manufacturer does), and they use retail price instead of wholesale price when calculating margin.

If you use the correct numbers, their margins are significantly lower than the rest of the industry.

It's fair to use the retail price since they sell direct to consumer

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