Telsa Q3 profit down more than a third despite record $28.1B revenue
Răzvan Țupa
Oct. 23 (UPI) -- Tesla reported profits were down 37% in the third quarter despite a jump in revenue to $28.1 billion on frontloading of sales driven by buyers racing to beat the deadline for a federal tax credit before it expired Sept. 30. The tax credit, worth up to $7,500 on EV purchases, helped the firm buck a run of declining quarterly sales along with a new six-seat version of its popular Model Y midsize SUV that performed well in the Chinese market. While sales of competitors, including
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