Tesla profits surge on higher auto sales despite chip crunch

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AFP

New York (AFP) – 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 delivered a record 241,391 vehicles during the period, with sales significantly ramping up in North America and China. The results suggest Tesla’s output has been less affected by the global shortage…

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