According to reports, In the first three month period of the year Tesla Inc(NASDAQ:TSLA) delivered over 25000 cars. The numbers have not just shaken the previous records, these figures are 70% rise over the deliveries it managed in the similar period year before.
2017 was considered as make-or-break year for the electric car maker company as it set off impressively to top analytics outlook. Tesla Inc(NASDAQ:TSLA) was constantly countering frequent production setbacks in the past and last year it missed its target for car delivery, making analysts to think whether Mr Musk could make good on his goal to manufacture half a million cars in 2018.
Nonetheless, in the first quarter of 2017 Tesla’s deliveries beat predictions, and set the company well on its way toward achieving its target of delivering 47,000 to 50,000 vehicles during the first half of this year.
Meanwhile second and third quarter will be a predominantly testing time for the company as company’s CEO Mr. Elon Musk has vowed to start manufacturing of Tesla’s new car that is designed for a mass market audience, the Model 3 in July. The Model 3 is likely to have a price tag of about $35,000, less than half as dear as the Model S sedan or the Model X crossover SUV.
During the first quarter, Tesla delivered slightly more Model S cars than the Model X during the first quarter. It produced 25,418 vehicles and delivered 25,000 vehicles.
Furthermore Tesla (TSLA) has an enterprise value of $52 billion, with $3.4 billion in cash and $8.6 billion in debt. The giant manufacture its cars at its factory in Fremont, California, and has been profoundly investing in its giant battery factory in Nevada, the Gigafactory.