Tesla profit more than quadruples to $1.6b

New York: Tesla’s third-quarter profits more than quadrupled as the electric auto leader notched sharply higher sales in North America and China, the company said Wednesday.

Profits at Elon Musk’s company came in a $1.6 billion (Dh5.9 billion) for the three-month period as revenues surged 57 percent to $13.8 billion compared to the year-ago period. Tesla delivered a record 241,391 vehicles during the period.