Tesla sales hit new record

isaac

April 20, 2015 5:30 PM

What do Hollywood stars, business executives, and environmental activists all have in common? Yes, their love for electric cars, which has lead to a boom in car sales, making waiting lists for those vehicles extraordinary long.

Elon Musk

Maybe the hippest of those companies is Tesla, Silicon Valley placed car manufacturer managed by charismatic leader Elon Musk. The company just released its financials for the first quarter in 2015 and the results are remarkable.

Tesla has sold a whopping 10,300 units of the Model S, a fully electric luxury sedan, in the first three months of 2015, which is a 55% increase over the same period last year (Q1, 2014) and a new record for the company of cars sold in a quarter.

The development is great news for Tesla, whose high-priced stock has fallen a bit as a result of poor sales in China. The company started delivering electric cars in China last year, but potential buyers in that country had a misconception that charging the cars was difficult. This misconception led to poor sales, a development that prompted the company to cut 30 percent of its staff in China.

With the new sales record Tesla executives have satisfied its shareholders, and promised to keep on conquering the lucrative Chinese car market as soon as possible.

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isaac