Tesla (TSLA) Sees Sales Doubling in 2014, Spokesperson Says

January 27, 2014 7:57 AM EST
Tesla Motors (Nasdaq: TSLA) affirmed a positive outcome to its trademark battle in China while also providing some perspective on what the company is planning for the market in 2014.

Spokesperson Veronica Wu told Reuters that Tesla plans to open 10 to 12 stores in Chinese cities through the end of 2014. Wu also affirmed previous comments from CEO Elon Musk that the company sees China contributing 30 to 35 percent of sales this year.

Tesla expects to double overall total sales in 2014, from sales of 23,000 to 24,000 units estimated for 2013. Earlier in January, Tesla's Jerome Guillen said Q4 sales were 6,900 units, which allowed the company to easily outpace its sales goal of 20,000 units for 2013.

Wu affirmed that there were no near-term plans to build a Tesla factory in China. She commented, Right now we are not considering (that) as yet ... The most important task right now, now that we have announced our pricing strategy, is to focus on getting the right car and making sure we have the right service network, and making sure the Chinese customer is happy ... Happy customers are the best advocate of your product, right?

Shares of Tesla are lower in early trading Monday.

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