Tesla sold more than 10,000 electric car models in the first three months of this year which is a 55% increase on the same period in 2014. According to the company’s founder, Elon Musk, Tesla is altering the way it announces performance details to avoid the inaccurate sources of information used by other companies to provide details of vehicle sales.
The number of vehicle deliveries will be published by Tesla within three days of the end of the quarter which is far quicker than normal business practice. Despite this rise in sales, it is far below the level of gas models. For example, General Motors sells as many vehicles in America in a day as Tesla sells around the world in three months.
The share price of Tesla has actually fallen 14% in 2015 as investors showed concern about the departure of two top sales executives from China as sales figures in that country fell well short of the original target. Additionally, Tesla will need another rise in sales to hit its target of 55,000 models sold in the world during 2015.
Musk’s fortunes won’t depend on the success of Tesla since he is worth almost £8 billion according to Forbes. The South African entrepreneur has other projects in mind; for example, he is planning to spend around £700 million on the launch of 700 satellites which will give Internet access to the billions of people who are currently without.
Musk has a track record of success going back to when he was 12 years of age and sold his first video game called Blastar. He is also responsible for creating the online company which ultimately became PayPal. He now lives in California and pledged to donate $10 million towards artificial intelligence research.
Musk has tried to put on a brave face regarding Tesla’s performance in China and the company is working on new upgrades and models. An example of this is hands-free steering on its Model S sedan which is expected to see the light of day by the middle of 2015, a full year ahead of everyone else.
Tesla is set to reveal a new product on April 30 but have confirmed that it would not be a new car. Back in February, Musk spoke about a new home battery so there is a strong possibility that this will be the new release.