Tesla’s second quarter report shows positive signs
Electric cars are thing of future as economies are going green but Tesla Motors have decided to make it reality right now. The company registered positive growth for second consecutive quarter in car sales. Massive 52 percent growth has been recorded. Tesla motors also attracted press attention recently with its most efficient solar battery. The shares were selling at $280.02 at New York Stock Exchange with growth of 4 percent. Overall Tesla has gone 26 percent up this fiscal year.
More than 11,507 Model S sedans were sold by Tesla during second quarter, the preliminary data from the second quarter report pointed out. California-based Tesla expected to sell more or less similar quantity of its only car. The total number of cars sold this fiscal year is 21,552. The company has set ambitious target of 55,000 cars sale by the end of this year. Looks like Tesla’s marketing team will have to work hard now as they have managed to sell only 40 percent amounts.
The company is expected to introduce its new model X sport in the upcoming quarter and the sales are expected to rise due to the same. Jefferies LLC analyst Dan Dolev told that Model X of Tesla should deliver as per the expectations. He further added that demand, delivery and implementation of market strategy are positive factors of the new product. The company explained that sales are bit low in second quarter due to low marketing spending. All analysts recommended their client to buy Tesla shares.