Tesla Is Now More Valuable Than Ford

07 April, 2017, 07:49 | Author: Leticia Walters
  • Tesla Is Now More Valuable Than Ford

The number keeps Tesla on track to its target of delivering 47-50K units in the first half of 2017.

Of the 25,000 cars delivered, 13,450 (or 54 percent) were Model S sedans and 11,550 were Model X crossover utilities.

Tesla managed to increase its delivery rate by 69 percent compared to previous year, Fortune reports, which sets a quarterly record for the embattled tech giant. That means the Model X accounted for 46.2 percent of all cars Tesla has delivered in the quarter.

Tesla also announced Sunday that during the quarter, not only did it produce 25,418 vehicles, but that about roughly 4,650 vehicles were on their way to their customers. The statement added: "Our delivery count should be viewed as slightly conservative, as we only count a vehicle as delivered if it is transferred to the customer and all paperwork is correct".

Despite recent improvements, it seemed that CEO Elon Musk's target of quintupling Tesla production of half a million units by 2018 hasn't been met.

The company does not sell in Iran, as U.S. sanctions and a ban on American products in the country leave the market to Tesla's Asian competitors.

CFRA analyst Efraim Levy said in a note sent Monday, that Tesla's delivery numbers bode well for the company and should add to recent positive sentiment, but he reiterated his sell rating on the stock. These vehicles were, of course, scheduled for delivery during Q2 2017.

The Model 3 is also expected to boost Tesla's sales volumes as it will be more affordable than its other vehicles.

The smallest and youngest publicly held USA carmaker climbed as much as 5.7 per cent in early trading Monday, a day after reporting 25,000 first-quarter deliveries and exceeding analysts' estimates. The Model 3 will be priced around $35,000, and the company expects to produce the vehicle in higher volumes than its other models.

Generally, at the start of a new year, the company will give full year guidance for sale and production estimates.

Jessica Caldwell, a senior analyst with auto-information website Edmunds.com, said, "Sales have been good for Tesla in the last three months, but the Model 3 will be their biggest challenge yet as I imagine most of their company resources are focused on that vehicle".

Recommended:

  • Anne Hathaway back in 'Colossal' independent comedy

    Anne Hathaway back in 'Colossal' independent comedy

    And the second time I watched the movie I realised it was her [the stunt double]". "I just wanted that s**t off". Anne Hathaway holds her Oscar for winning Best Supporting Actress for her role in " Les Miserables ".
    EU's Tusk, Britain's May meeting for Brexit talks in London

    EU's Tusk, Britain's May meeting for Brexit talks in London

    There are plenty of Tory MPs who will accept no compromise and would prefer to break away from the European Union without a deal. A fellow pro-Brexit MEP has criticised Nigel Farage for his "overdramatic" remarks in the EU Parliament on Wednesday (5 March).
    Trade deficit with China at $46.7 bn in Apr-Feb

    Trade deficit with China at $46.7 bn in Apr-Feb

    Imports of goods from China tumbled a record $8.6 billion to $32.8 billion in February, a 20.8 percent drop from January. India's trade with China during April-February 2016-17 decreased marginally by 0.87% and amounted to US$ 64.57 billion.
  • The Oppenheimer Holdings Equities Analysts Lift Earnings Estimates for Comcast Co. (CMCSA)

    The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website . News articles about Comcast (NASDAQ:CMCSA) have been trending positive on Wednesday, according to AlphaOne Sentiment.

    Holy Angels Church assists families in need

    Please join us at 8 am for Holy Eucharist without music and at 10 am for Holy Eucharist with our choir accompanied by musicians. A youth worship service is held on the second and fourth Sunday of each month at 11:15 a.m. led by youth director Jon Baker.

    Abe strives to keep Trump-Xi summit laser-focused on Pyongyang

    Later in the month, North Korea tested a mobile-launched missile which exploded "within seconds of launch", according to U.S. If fired from the South's southernmost island of Jeju, the missile can reach Sinuiju, a North Korean city bordering China.
  • Trump kicks off Florida meetings with Chinese president

    Ignoring questions about what he plans to do about Syria, Trump instead thought it was an appropriate time to make jokes. But most of all, China doesn't want to see a scenario that the United States would consider ideal, said Snyder.
    African Court Lifts Ban on Domestic Sales of Rhino Horn

    African Court Lifts Ban on Domestic Sales of Rhino Horn

    Also, the domestic horn trade will still be subject to regulation by the government as it issues permits. The ConCourt ruling in SA does not relate to the worldwide trade in rhino horn for commercial purposes.
    Year-old dancer loses part of leg to rare infection

    Year-old dancer loses part of leg to rare infection

    As the infection spreads, it kills tissue, and can cause "serious complications that can require amputation or result in death". Tessa Puma, 6, from suburban Akron, was treated for strep throat in early March, then last week she came down with the flu .
  • Mounting confidence nerve gas was used in Syria attack

    Earlier today , reports surfaced that President Donald Trump was considering the use of military power against the Assad regime. Tillerson went on to criticize the attacks in Syria as a "serious matter that requires a serious response".

    Economy, Regs, & Taxes Trump's Executive Order Is an Energy Boost

    US President Trump has this week passed measures aimed at reviving the country's declining coal industry . Kitchell said Thursday that he's still interested in pursuing local solar power for energy generation.
    Flat tax proposal unpopular with think tanks, interest groups

    Flat tax proposal unpopular with think tanks, interest groups

    Given that, she said, "this is a tax increase on small businesses, which a majority of people in this chamber have asked for". Some moderate Republicans and Democrats have expressed concerns about the flat tax plan. "It doesn't solve the problem".


Popular

US to boost defenses against North Korea: Trump to Abe
Others attribute North Korea's unsuccessful launches to poor-quality missiles, unreliable equipment, and incompetence. Talks about North Korea are expected to feature high on the agenda of talks on Thursday between U.S.

Former National Security Adviser Michael Flynn didn't initially disclose Russian Federation speeches
When the White House contacted him this week to complete the process, he updated and finalized the form. After weeks of playing defense, the White House appeared to find a small hole to run through.

Tony Romo retires, joins CBS as National Football League analyst
But the former quarterbacks will still serve on competing teams, since Aikman is the lead game analyst for Fox Sports. Now Romo is off to the broadcast booth, where he will be asked to replace Simms despite his lack of experience.

Winning EPL will be tough, says Chelsea manager Conte
Antonio Conte admitted Chelsea's shock 2-1 defeat against Crystal Palace has blown the Premier League title race wide open. I know Man City started the season wanting to win the title.

Mom: Social media prank lead son, 11, to 'end his own life'
If charges are handed down, it's possible that the girl could be tried as an adult if the accusations are serious enough. In a statement released to FOX UP , Tysen's mom, Katrina Goss , said that he chose to end his life on March 14th.