New York CNN —
Tesla Wednesday reported an unexpected improvement in earnings for the third quarter, lifting its recently battered shares in after-hours trading.
The company reported a 6% increase in sales volume, which was fairly modest for an automaker that not long ago was reporting 50% annual growth in vehicles sold. It’s far below the 20% to 30% growth rate that CEO Elon Musk told investors Wednesday he expects next year.
So the better profit came not from increasing sales but from success in cutting its cost to build vehicles. The company said the
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