Model S deliveries increase to 52%

folarin okunola

July 3, 2015 1:56 PM

The company has been successful by offering a long-range electric car—up to 270 miles on a charge—compared with most other electric cars that are under 100 miles.

Tesla CEO and Co-Founder, Elon Musk

Tesla Motors Inc.’s second-quarter sales jumped 52%, higher than the company had forecast, giving the Silicon Valley auto maker important momentum ahead of the debut of its Model X sport-utility later this year, according to reports.

According to the Wall Street Journal, Tesla’s shares rose 2% to $274.75 in morning trading following the disclosure Thursday. Tesla sold 11,507 Model S sedans for the three months that ended June 30, a company record. The global sales results were better than the 10,000 to 11,000 forecast the company had given two months ago in its first quarter earnings release.

The company has been successful by offering a long-range electric car—up to 270 miles on a charge—compared with most other electric cars that are under 100 miles.

In addition, the Model S can carry up to seven passengers, has sports car acceleration of 5 seconds to 60 MPH or less and has a 17-inch touch screen display that allows Web surfing. Also, Tesla continues to add features to the car through software updates, something other car makers are only just beginning.

Sources say Tesla likely has become the biggest seller of electric vehicles in the U.S.--though the company’s obscure sales reporting methods, which don’t normally break out monthly or regional results, make it difficult to determine.

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