Tesla (TSLA) Q1 Vehicle Deliveries Surpass 10K Units

April 6, 2015 6:18 AM EDT
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Tesla (NASDAQ: TSLA) announced it delivered 10,030 cars in Q1 of 2015, which is a new company record for the most deliveries in a quarter and represents a 55% increase over Q1 last year. The results were above the company's guidance of 9500.

Going forward, Tesla will publish the number of new car deliveries within three days of quarter end. We have decided to take this approach, because inaccurate sources of information are sometimes used by others to project the number of vehicle deliveries.

There may be small changes to this delivery count (usually well under 1%), as Tesla only counts a delivery if it is transferred to the end customer and all paperwork is correct.

Also, Tesla siad this is only one measure of financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.

Baird analyst Ben Kallo believes the news will be well received considering just a few weeks ago some bears argued there wasn’t even enough demand to hit Q1 targets.

Kallo also said the decision to change reporting is just as good as the delivery beat.

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