IT&Software

Tesla reports record deliveries of vehicles in 1st quarter

Tesla reports record deliveries of vehicles in 1st quarter

The report is the first in a pivotal year as Musk differentiates Tesla's line-up, adding the Model 3 as its first high-volume, lower-priced vehicle while making existing models even more exclusive.

It marks a strong recovery from the 9% drop in deliveries in the fourth quarter, affected by output troubles. "25,000 units is the best we could have thought, and people are looking at Model 3 for growth".

The post Tesla Inc (TSLA) Delivers 25,000 Vehicles in Q1, Tops Estimates appeared first on InvestorPlace. Further, the EV maker stated that the final number could vary by up to 0.5%. Tesla produced 25,418 vehicles, a bit above its prior record in the third quarter of 2016. While the automaker saw record sales of its Escape vehicles, Ford sold a total of a little under 237,000 vehicles this past month.

The firm has developed a range of electric cars including the Model S and the Roadster, billed as the world's first electric auto.

Recently, a Chinese technology company that is behind WeChat, Tencent, purchased a 5% stake in Tesla which is worth about $2.2 billion. Over the weekend, the electric-car maker announced its production and delivery numbers for the past three months.

Tesla has already guided to deliver 47,000 to 50,000 Model S and X units in the first half of 2017, and Kallo had said Tesla can achieve this if its Q1 deliveries had come in above 20,000 units.

Tesla is also building a "gigafactory" just outside Reno, Nevada, to manufacture lithium batteries.

Tesla's real test, however, will come later this year when it begins production of the mainstream Model 3 sedan.

Meanwhile, however, Tesla has to continue earning revenue from its two existing products, with the five-year-old Model S remaining its mainstay.

Of course, each company's respective valuation metrics are worlds apart, as the majority of Tesla's value remains predicated on its future potential.


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