Tesla posts $438M 1Q profit on strong electric vehicle sales

DETROIT (AP) — Charged up by strong sales of its electric cars and SUVs, Tesla has reported its seventh-straight profitable quarter. The company made $438 million in the three-month period that ended March 31. Its sales more than doubled the same period last year to nearly 185,000 vehicles. Once again, the company needed regulatory credits purchased by other automakers in order to make a profit. Also, a company official said on a conference call that there is evidence that someone was behind the wheel of a Tesla Model S that crashed in Texas, killing two men. Local authorities said they found no one in the driver’s seat. They’re investigating whether the car was operating on Tesla’s Autopilot driver-assist system.