DETROIT (AP) — Tesla’s third-quarter net income rose 17.3% on stronger electric vehicle sales. An optimistic CEO Elon Musk predicted the company would achieve up to 30% sales growth next year. The performance changed the trajectory of the year for the Austin, Texas, company, which had seen sales and profits decline in the first two quarters. Tesla said Wednesday that it made $2.17 billion from July through September, more than the $1.85 billion profit a year ago. The earnings came despite price cuts and low-interest financing that helped boost sales of the company’s aging vehicle lineup. After the results were announced, Tesla’s stock soared almost 12%.
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