Record deliveries power Tesla shares to all-time high

Model S Sedans represented 13,450 of the Tesla orders fulfilled, while the Model X sports utility vehicle represented 11,550.

The Model 3 is set to go on sale in the U.S. this year, it will come with a price tag of $35,000 (£28,000).

Tesla said another 4,650 vehicles were being transported to customers at the end of the first quarter and will be included in second quarter deliveries.

Tesla remained positive with this year's best-quarterly vehicle production and a much better-than-expected delivery results, matching the investors' estimate earlier this year. Those cars will count toward the company's Q2 delivery totals. Tesla is discontinuing a low-end Model S with its 60-kilowatt-hour battery pack on April 17, making the 75-kilowatt-hour Model S its cheapest vehicle at $74,500 (U.S.) before tax credits or state rebates until the Model 3 arrives.

In a rather appropriate twist, the reason why Q1 vehicle deliveries for Tesla has been so successful is because of a awful Q4 performance in 2016.

Each year seems to be "the year" for Tesla, meaning it's a very important time for the still-young automaker. 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. However, the record figure is a good sign for Tesla as it prepares to begin producing the mass-market Model 3.

Ford also announced plans in 2016 to develop autonomous cars, which has been a high priority goal for Musk and Tesla.

That was an increase for the company which has been investing greatly in raising production and faces a pricey year, with the release of the new Model 3.

Can You Actually Trust Tesla Stock? The number of 25,418 cars sold is definitely a record.

The first quarter of 2016 was a rough one for Tesla and in comparison the first half of current year has been a welcome relief with vehicle deliveries jumping by 69 per cent year over year.



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