Tesla reports record deliveries of vehicles in 1st quarter

Tesla reports record deliveries of vehicles in 1st quarter

Tesla reports record deliveries of vehicles in 1st quarter

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.

Taser changes name in shift to software, police services
The Axon-related sales saw a much bigger jump, almost doubling from a year earlier, while Taser sales went up by about a quarter. The Seattle Police Department decided in November to purchase body cameras from the Taser unit for 850 officers.

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).

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