Tesla profits surge on higher auto sales despite chip crunch

New York (AFP) Oct 20, 2021

Tesla's third-quarter profits more than quadrupled on sharply higher sales despite a global semiconductor shortage that has plagued the auto industry, according to results released Wednesday. Elon Musk's electric car company posted a record profit of $1.6 billion for the three-month period, as revenues surged 57 percent to $13.8 billion compared to the year-ago period. Tesla also delive