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Tesla Expects To Hit Delivery Target, Stock Goes Up

Tesla Expects To Hit Delivery Target, Stock Goes Up
Elon Musk, Tesla Factory, Fremont (CA, USA) Maurizio Pesce / Flickr CC BY 2.0


Tesla Expects To Hit Delivery Target, Stock Goes Up

It looks like Tesla is feeling pretty optimistic about the future. Just recently, the electric vehicle maker announced that it will be able to deliver 50,000 vehicles for the remaining second half of 2016.

Tesla is unfazed by the winter weather that they will face during the holiday season. Despite this, the company believes it will be able to stick to its target and hopefully, even significantly exceed deliveries done in the previous quarter.

According to Tesla’s third quarter Production and Deliveries report, there were as much as 24,500 vehicles delivered during the company’s third quarter. 15,800 of these were the popular Model S sedan while 8,700 comprised of the Model X SUV. In total, these represented an impressive 70 percent increase in deliveries when compared to the company’s second quarter deliveries of 14,402 units.

Also ReadTesla Update: Elon Musk Says No Discount On Sales

The 3rd quarter report also takes note that that it only counted a unit as delivered only once it was transferred to a customer. This is being emphasized again following an internal email from company CEO and founder Elon Musk with the same instructions.

The same email also clarified that Tesla is not in the business in granting discounts to customers just to help move some of the company’s vehicles in the inventory after it was found that a number of customers did benefit from discount pricing in their Tesla purchase recently.

For the remaining quarter of the year, Tesla expects its vehicle deliveries and production to be at least slightly above or equal to that of its third quarter. Early on though, it can expect 5,500 vehicles to already be added in its fourth quarter. These are the ones that are already currently in transit to customers.

This piece of news seems enough to lift the mood for Tesla in the stock market. The company’s stock is currently up by 4.74 percent to $213.70.

Also ReadTesla On Autopilot Crashes Into A Bus In Germany

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About Jennifer Ong

Jennifer Ong has been covering and writing stories since 1998. Over the years, she has worked on stories on business, health, lifestyle, entertainment and travel. She has also previously written shows for television. When she's not on the job, she enjoys wine and Formula 1.

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