Tesla sets new sales record

The figures – a new company record for a quarter – surpassed analyst expectations by at least 500 units and led to a 9% bump in in Tesla stock.

The growth is driven by the Tesla Model S which accounted for 25% of all electric vehicles sold in the US in Q1 2015. It was recently named the best car in the world by the influential Consumer Reports magazine for the second year in a row. 

This is the first time that the company has released quarterly sales figures to the press before its earnings report. The decision was taken, according to a Tesla statement, because “inaccurate sources of information are sometimes used by others to project the number of vehicle deliveries”.

Tesla shares are surging after strong sales and bullish analyst comments http://t.co/9GBWGpnYcP pic.twitter.com/ANwv9s7qf3

— Bloomberg Business (@business) April 6, 2015

Tesla’s success is being mirrored by the market as a whole: 320,000 new electric vehicles were registered around the world in 2014, accounting for 43% of all electric vehicles currently on the road.

In the UK, 2014 saw a ‘remarkable surge’ in ultra-low emission vehicle sales, with a four-fold increase over 2013.

Tesla founder Elon Musk recenly said the company would reveal a new product on 30 April, but that it would not be a car. In February, Musk said Tesla would soon be unveiling a home battery that would be ready to go into production in about six months, sparking speculation that this could be the new product slated for launch later this month.

Musk is also the inventor of the Hyperloop system, whereby a 28-passenger capsule is propelled vast distances along an enclosed tube by magnets and compressed air. Find out more about the Hyperloop and other sustainable systems of transport here.

Brad Allen