Quarterly auto delivery record for Tesla

Of the 25,418 vehicles Tesla delivered this past quarter, about 13,450 of them were Model S cars and about 11,550 were Model X.

Tesla said it shifted more than 25,000 cars in the first three months of the year, marking a new quarterly record and beating analysts’ forecasts.

Tesla revealed that it was able to deliver 25,000 electric vehicles in the first quarter, which is a record number and a 69 percent increase compared with the delivery figures of the first quarter of previous year. According to a report by Electrek, Tesla managed to increase deliveries of its Model S Sedans not only on a year-over-year basis but also by quarter-to-quarter. The company said in February that it was expecting to deliver 47,000 to 50,000 vehicles (Model S and Model X combined) in the first half ahead of the planned start of Model 3 production in July.

Tesla also announced Sunday that during the quarter, not only did it produce 25,418 vehicles, but that about roughly 4,650 vehicles were on their way to their customers.

The midsize Model 3 sedan is due to go on sale later this year in the United States and Tesla hopes it will end up being their biggest seller.

While Tesla might never carry the tradition and history of some of the nation’s oldest automakers, it now has every reason to feel equally, if not more, important.

In a rather appropriate twist, the reason why Q1 vehicle deliveries for Tesla has been so successful is because of a awful Q4 performance in 2016.

In 2016, the company targeted to deliver 80,000 cars while delivering 76,230 vehicles.

Tesla shares closed 0.14 percent higher on Friday.

Tesla (NASDAQ:TSLA) is among those stocks that have experienced a stunning share price rally in the last five years, making it an existing play for value investors, who like to create value through market volatility.

Starting in July, the company will begin production of the Model 3, which is being marketed as a compact vehicle for the masses. This means the company is looking to deliver about the same number of cars next quarter as well.