Tesla Motors, Inc. TSLA has decided to report its quarterly vehicle delivery data to dispel incorrect estimates usually made using erroneous information sources. The electric carmaker will report its vehicle delivery volume within three days of every quarter end.
Along with this announcement, Tesla reported its delivery data for the first quarter of 2015. Per the data, the automaker delivered 10,030 vehicles in the quarter, representing an impressive 55% improvement over the first quarter of 2014. This is a record high for Tesla.
Vehicles delivered surpassed the automaker’s 9,500-vehicle targeted delivery in the first quarter. It is worth noting that around 1,400 of the vehicles delivered were produced in the fourth quarter of 2014 but their deliveries were delayed due to a combination of factors, including customers being on vacation, severe winter and shipping problems.
However, Tesla said that there might be a marginal revision in the figure as it counts a vehicle only after it is delivered to the end customer and when the paperwork is accurate. The company also clarified that its quarterly financial results do not depend solely on vehicle deliveries but also on other factors such as cost of sales, foreign exchange movements and mix of directly leased vehicles.
Tesla expects to deliver about 55,000 Model S and Model X vehicles globally in 2015, up 70% over 2014. The company expects 40% of these deliveries in the first half itself.
Tesla currently carries a Zacks Rank #3 (Hold). Some better-ranked automobile stocks are Gentherm Incorporated THRM, General Motors Company GM and Wabash National Corp. WNC. While Gentherm sports a Zacks Rank #1 (Strong Buy), both General Motors and Wabash National carry a Zacks Rank #2 (Buy).
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