Economy, Auto

Tesla Reports Record Delivery Numbers

Global car buyers in big numbers are opting for Tesla models.
Global car buyers in big numbers are opting for Tesla models.

Electric-only car company Tesla, announced that in first three months of 2017 the company delivered over 25,000 vehicles to its customers.

The record quarter marks a shift if the company’s profits as it was a 70% rise year-on-year according to the company’s own statistics, BBC reported on April 4.

The electric car maker said that was a 70% rise on the same period of 2016.

It is a rebound for the US company after production problems late last year resulted in a 9% fall in deliveries in the fourth quarter.

Tesla was founded in 2003 and is controlled by entrepreneur Elon Musk, who also owns the space rocket firm, SpaceX.

Last week China’s Tencent Holdings bought a 5% stake in Tesla for almost $1.8 billion.

That was a boost for the company which has been investing heavily in raising production and faces an expensive year, with the launch of the new Model 3.

It is a medium-sized car which Tesla describes as its “most affordable” car yet and it hopes will have mass market appeal.

The Model 3 is due to go on sale in the US this year priced at $35,000.

That would be significantly cheaper than Tesla’s current models - the Model X, an SUV, and the Model S, a sporty saloon, both priced at more than $70,000.

In the first quarter Tesla delivered 13,450 Model S cars and 11,550 of the Model X.

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

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