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Tesla forecasted to reach record second-quarter sales

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Tesla forecasted to reach record second-quarter sales

The California-based electric carmaker has been on a global offensive this past quarter, with the company beginning deliveries in two key markets – China and the right-hand drive United Kingdom.

The startup company, which is not only an investor sweetheart but also the youngest publicly traded automaker in the US, is set to report second quarter earnings and deliveries tomorrow, on July 31. Headed by billionaire entrepreneur Elon Musk, Tesla only has a single model in its portfolio, but plans to add a crossover in 2015 and a more affordable sedan in 2017.

“Initial deliveries into China appear to have been successful,” said Andrea James, a Minneapolis-based analyst for Dougherty & Co.

“This was probably the most difficult quarter of the year for them, given how many vehicles were in transit to so many new markets,” said Alan Baum, an auto analyst at Baum & Associates. “They’ve modestly increased production, but August and September is when it begins to step up before really accelerating through the end of the year.”

According to analyst predictions, Tesla could report at least 7,500 deliveries of the luxurious Model S sedan, in line with the company’s own internal goal. The record sales would be 47% above what the company accounted in the same period last year.

Via Bloomberg

by Aurel Niculescu (my Google+) - Wednesday, July 30th, 2014 - filed under Industry, News, Tesla. Image credit: .
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