A record number of cars shipped in the third quarter of 2019 was enough to help Tesla turn a modest profit, according to financial figures released by the Silicon Valley automaker on Wednesday. And with the Shanghai Gigafactory nearly ready to begin production of the Model 3, Tesla’s most affordable car, all eyes are now on China to see what kind of lift the automaker can get in the biggest market for electric vehicles in the world.
Tesla reported a net income of $143 million, and generated $6.3 billion of revenue, which is down slightly from the second quarter, and down about $520 million from the third quarter of 2018. That marks the first year-over-year quarterly revenue decline for Tesla since 2012, though the company attributes the…