Tesla’s profits down 37% in Q3 despite federal tax credit rush, sales recovery Related news
Bogdan Hofbauer
ISTANBUL US electric vehicle giant Tesla's net income dropped 37% year-on-year in the third quarter, despite a recovery in sales from the previous two quarters' declines and a rush by consumers to take advantage of a federal tax credit. The firm’s net income dropped to $1.37 billion in the third quarter from $2.17 billion a year earlier, even though American consumers rushed to purchase electric cars prior to the expiration of a $7,500 federal tax credit last month. Meanwhile, revenue amounted
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