Tesla profits rise on greater sales in spite of chip crunch

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    Tesla profits surge on greater sales regardless of chip crunch

    < img src =" https://worldbroadcastnews.com/wp-content/uploads/2021/10/ZXAbsk.jpg" class =" ff-og-image-inserted" > Tesla’s third-quarter revenues more than quadrupled on sharply greater sales regardless of a worldwide semiconductor shortage that has pestered the car market, according to results released Wednesday.

    Elon Musk’s electrical vehicle company published a record earnings of $1.6 billion for the three-month period, as earnings rose 57% to $13.8 billion compared to the year-ago duration.

    Tesla likewise provided a record 241,391 cars during the period, with sales significantly increase in The United States and Canada and China.

    The outcomes recommend Tesla’s output has been less impacted by the worldwide lack of semiconductors than some rival carmakers that have actually shuttered factories or cut production. Nevertheless, the business said chip lacks, as well as congestion at ports and rolling blackouts, “have been affecting our ability to keep factories running at complete speed.”

    Published at Thu, 21 Oct 2021 18:18:30 +0000

    https://economictimes.indiatimes.com/news/international/world-news/tesla-profits-surge-on-higher-sales-despite-chip-crunch/articleshow/87192522.cms

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