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Tesla Inc. set a record for deliveries and production in the first quarter, beating analysts' estimates as Chief Executive Officer Elon Musk prepares to begin building the Model 3 in July.
The maker of electric cars and energy-storage devices shipped just over 25,000 vehicles in the year's first three months, Palo Alto, California-based Tesla said in a statement Sunday. That topped the average forecast of 24,200 from three analysts and should bolster confidence in Tesla's target of delivering as many as 50,000 autos in this year's first half.
"It's all about the Model 3 right now, but this is very good news," Ben Kallo, an analyst at Robert W. Baird & Co., said in an interview. "25,000 units is the best we could have thought, and people are looking at Model 3 for growth."
(Score: 0) by Anonymous Coward on Tuesday April 04 2017, @11:16PM (2 children)
Tesla's throughput of vehicles is something like 5% of Ford's? 2.5%? I forget, somewhere above 1 and below 10%.
But Tesla has the (giga)factories of the future, the patents for the next 5y+, and is NOT just an automotive business (powerwall etc). They are a company making tools for mass and energy delivery and storage.
And almost as importantly, they are growing where others are failing.
(Score: 0) by Anonymous Coward on Wednesday April 05 2017, @03:14AM (1 child)
Except for FCA (Chrysler) and VW (Diesel idiots) I don't think anyone has been failing in the auto business in recent years. Since the Great Recession sales are up every year. But auto is historically cyclical and sales will go down at some point. Tesla isn't big enough to be sucked into the sales results of the whole market yet, but if they keep growing they will be.
(Score: 0) by Anonymous Coward on Wednesday April 05 2017, @10:36PM
I know this is OT, but it is AC all the way down :-)