Tesla reports record deliveries of vehicles in 1st quarter

Image Source AllCarSale

Image Source AllCarSale

Tesla was able to sell "just over" 25,000 cars in the first quarter of this year which represents a 69 percent increase over the same time last year.

On the darkside (bearish), we had the analyst from Cowen say that deliveries would come in at 23,000 and that "buyside" expectations were 23,000-24,500 units.

In the first quarter Tesla delivered 13,450 Model S cars and 11,550 of the Model X.

The report is the first in a pivotal year as Tesla CEO Elon Musk differentiates the company's lineup, adding the Model 3 as its first high-volume, lower-priced vehicle while making existing models even more exclusive. Final numbers should be available in the next few weeks, and could include additional vehicles of up to 0.5%.

The chart below illustrates Tesla Motors, Inc. stock movement after posting an upbeat figure for the first quarter.

Advertisers flee Bill O'Reilly's show but impact unclear
Human Rights Commission spokesman Seth Hoy said he could not comment. Visit MarketWatch.com for more information on this news.

Tesla said it shifted more than 25,000 cars in the first three months of the year, marking a new quarterly record and beating analysts' forecasts.

The Model 3 is due to go on sale in the U.S. this year priced at $35,000.

The company plans to produce 5,000 cars a week later this year after output of the new Model 3 begins in July. However, the company is facing several challenges, including the Model 3, the Gigafactory and SolarCity. It also specialises in battery storage. This suggests the gap between Tesla's Model X SUV and Model S Sedan is soon to swell, considering the figures published by the company. The Model 3 will be hands down its cheapest vehicle to date, starting at $35,000 before incentives, putting it within reach of the majority of American (not to mention foreign) auto owners.

Musk raised over $1.2 billion in a stock and debt sale last month to help fund costs related to producing the Model 3, Tesla's first widely affordable electric vehicle, which is expected to retail at about $35,000. He has an Underperform rating on Tesla going into the weekend.

Last week China's Tencent Holdings, which owns WeChat, bought a five per cent stake in the vehicle company for nearly $1.8bn (£1.4bn).

Recommended News

  • Court says gay employees can sue under 1964 Civil Rights Act

    Court says gay employees can sue under 1964 Civil Rights Act

    At the same time, they have been met with a wave of state laws created to protect the religious freedom of employers and others. LGBTQ advocates, citing legal precedent, say that what the original laws' authors believe or intended is irrelevant.
    New York's top court rejects Facebook search warrant challenge

    New York's top court rejects Facebook search warrant challenge

    Join the Network World communities on Facebook and LinkedIn to comment on topics that are top of mind. The court ruled against Facebook 5-1, saying state criminal procedures do not authorize its appeal.
    'Rick and Morty' may have revived McDonald's 1998 Szechuan McNugget sauce

    'Rick and Morty' may have revived McDonald's 1998 Szechuan McNugget sauce

    Just bring some back for everyone else, OK? Look out for Rick and Morty , Season 3 , Episode 2 coming to Adult Swim in 2017. The Rick And Morty Twitter account has stoked the fires of viewers' curiosity further.
  • Death toll from Syria chemical attack rises to 75

    Death toll from Syria chemical attack rises to 75

    That was seen internationally as a major blow to US credibility and, for Obama's critics, a prime example of weak leadership. It pinned the "use of chemical and poisonous material" on rebel forces "to achieve their despicable goals and agendas".
    Nickelodeon Is Making An 'Invader Zim' Movie

    Nickelodeon Is Making An 'Invader Zim' Movie

    Like lots of our favorite 1990s and early 2000s Nickelodeon shows, Invader Zim has retained a cult base of loyal fans. This movie will likely pick up where the series left off, letting Zim jumpstart one more plan to conquer Earth.
    Marshawn Lynch To Oakland Raiders

    Marshawn Lynch To Oakland Raiders "Will Happen"

    That of the exploratory phase which means it's possible the ball could get rolling quickly if the two sides like what they hear. Hopefully the Raiders can provide one last parade to the city of Oakland before breaking its heart and bolting to Sin City.
  • China dispute deepens over Dalai Lama's India trip

    China dispute deepens over Dalai Lama's India trip

    Hua said that no one believed that the Dalai Lama was visiting a "disputed region" for religious reasons alone. In doing so, they are trying to repudiate a significant clause of a landmark 2005 bilateral treaty .

    Trump says U.S. will forge a 'great bond' with Egypt

    And, as a matter of fact, this is the first visit in eight years from an Egyptian president to the United States. In recent months, USA and Egyptian officials have sought to stress commonalities.
    South Korean supporters of arrested ex-president to protest

    South Korean supporters of arrested ex-president to protest

    According to Seoul-based JoongAng Monthly Magazine she stays in the visiting area with him from nine to five every day. The former president was taken to a detention center in Euiwang, Gyeonggi Province soon after the warrant was issued.
  • Arsenal should do everything to keep Sanchez, says Campbell

    Arsenal should do everything to keep Sanchez, says Campbell

    The likes of Robin van Persie, Samir Nasri , Emmanuel Adebayor and Cesc Fabregas all left the club and Sanchez could follow them.
    UK woman who urinated on Trump golf course loses case

    UK woman who urinated on Trump golf course loses case

    The court heard she had been using a recognised right of way, and had been careful to observe Scotland's countryside access code. She said she was being treated for urinary incontinence and "needed urgently to go to the toilet" after jumping over a burn.
    USA  services firms grow at slowest pace in five months

    USA services firms grow at slowest pace in five months

    In February, private construction spending rose 0.8 percent to its highest level since May 2006 after being unchanged in January. The March reading was below expectations of 57.0 from a Reuters poll of 64 economists.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.