Tesla sets new record for production, deliveries in the first quarter

[Shawn Knight]

Tesla has set a new record for vehicles delivered and manufactured during the first quarter of 2017. The electric automaker delivered approximately 13,450 Model S sedans and roughly 11,550 Model X SUVs during the quarter. Combined, that’s a 69 percent increase over the year-ago period.

Tesla said the delivery count should be viewed as “slightly conservative” as they only count a car as delivered if it has been transferred to the customer and all of the paperwork is complete. That said, at the end of the quarter, around 4,650 vehicles were in transit to customers which will be counted as deliveries in the second quarter.

Total Q1 production, meanwhile, checked in at 25,418 vehicles – another record for the company.

Share value in Tesla responded positively to the news. As of writing (just ahead of closing on Monday), share value sits at $296.94, up 6.7 percent on the day – a record high. That puts Tesla’s market cap at just over $48 billion which is ahead of Ford’s at $45.17 billion and just south of General Motors at $51.15 billion. As of now, Tesla is the second-most valuable automaker in the US.

Tesla’s real test, however, will come later this year when it begins production of the mainstream Model 3 sedan. It’ll need to dramatically ramp up production volume in order to get through the initial Model 3 reservations which were around 373,000 as of about a year ago.

Permalink to story.

https://www.techspot.com/news/68781-tesla-sets-new-record-production-deliveries-first-quarter.html

 

[Uncle Al]

As hard to believe and I was definitely a non-believer, he has come through as promised, even beating Ford for this last quarter according to a number of the news outlets. NOW if he can just put together a vehicle with good mileage for around $21,000 that will compete with the other sub-compacts he'll beat the big boys brains out .....

 

[VitalyT]

In Ireland, for one, Tesla Model S remains an unreachable luxury item, with P90D going for 185k euro ($200k), it's just a toy for very rich people. That's why it is nowhere to be seen on the road.

 

[Skidmarksdeluxe]

As hard to believe and I was definitely a non-believer, he has come through as promised, even beating Ford for this last quarter according to a number of the news outlets. NOW if he can just put together a vehicle with good mileage for around $21,000 that will compete with the other sub-compacts he'll beat the big boys brains out .....

What you must remember is that Ford and Tesla vehicles are generations apart. When good old semitic Henry unveiled his remarkable machine to the world, hardly anyone even knew what a mechanical motor vehicle was, and there was nothing wrong with the horse and carriage anyway. It was cheap and reliable with easy maintenance, albeit smelly and messy, and had more than proven it's worth over millennia. As strange as it sounds, most people are still very skeptical about electric vehicles. Man has modernised but his mentality remains the same and that will never change.

 

[Skidmarksdeluxe]

"mainstream Model 3 sedan???"
You'll have to run that one by me again, I didn't get it the first time around.
Mainstream means "easily affordable to many" to me. Since when did Tesla start producing 'mainstream' vehicles at 'affordable' prices? It may be cheaper than their other models but not in anyone's wildest dreams can it be considered mainstream. A good example of a mainstream vehicle was VW's 50's 60's & 70's Beetle, and Ford's Model T.

 

[TheBigT42]

Those cars are not made...ans I suspect any of those cars in good condition are not affordable now.
New cars are 25,000 to 35,000 for a good mid level car. The Model 3 is in the top of the this range.

If you want affordable dont buy new cars. Buy 2 year old cars.

 

[DaveBG]

Just wait for Model 3. It will stir the auto market for good!