Electric car maker Tesla Inc (NASDAQ:TSLA) has delivered a record 25,000 vehicles in the first quarter, rebounding from production problems late last year.
Shares in Tesla jumped 3.89% to US$289 in US morning trading, above the all-time high close of US$286.04 on 4 September but below that day's intra-day record of US$292.42.
The company delivered about 13,450 Model S cars and about 11,550 Model X SUVs in the first three months of the year.
The total represented a 65% increase on the same period last year.
Tesla said another 4,650 vehicles were being transported to customers at the end of the first quarter and will be included in second quarter deliveries.
Record Quarterly Deliveries for @TeslaMotors in Q1 2017: 25K #cars (Model S: 13,450 - Model X: 11,550) https://t.co/beg38yCpeW #infographic pic.twitter.com/YjP7ohoLLc
— The Missing Graph (@TheMissingGraph) 3 April 2017
It marks a strong recovery from the 9% drop in deliveries in the fourth quarter, affected by output troubles.
Tesla posted a US$121mln loss in the fourth quarter after reporting its first profit in three years in the third quarter. The group is expected to report another loss in the first quarter.
Tesla said it was on track to meet its guidance of 47,000 to 50,000 deliveries in the first half.
The company plans to produce 5,000 cars a week later this year after output of the new Model 3 begins in July.
The Model 3 is also expected to boost Tesla’s sales volumes as it will be more affordable than its other vehicles. At US$35,000, it will cost about half as much as the cheapest Model S, which is priced at more than US$70,000.
Tesla’s shares have jumped 30% since the start of year on positive forecasts for the Model 3.
In a sign of confidence for the group’s prospects, last week China’s Tencent Holdings bought a 5% stake in Telsa for nearly US$1.8bn.
Tesla, founded in 2003, is controlled by entrepreneur Elon Musk, who also owns space rocket firm, Space X.
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