Tesla indicated that about 13,450 vehicles were Model S and about 11,550 vehicles were Model X and claimed to be the record one for quarterly deliveries.
"Stormy weather in Shortville", Musk tweeted after Tesla's better-than-expected quarterly vehicle deliveries announced on Sunday sent its stock surging 6.7 percent to $297.01 about a half hour before the closing bell.
The Model X was well received by reviewers on launch, but was plagued with bugs, most notably with its falcon doors. Tesla had hoped to deliver 50,000 vehicles in the second half of 2016, but it just missed that goal-the company delivered 24,500 vehicles in Q3 and 22,200 vehicles in Q4, bringing its total to 46,700 for 2016's second half. It now has 4,650 cars in transit to customers and they will be counted in the delivery figures for Q2 2017. While the United States is still the biggest market for the company with sales of $4.2 billion past year, the $1.1 billion in sales from China is triple the $318 million from 2015, representing massive growth and a big opportunity for Tesla. City residents who choose to drive will have to drive fully electric cars though, they can choose non-Tesla models if they like.
Tesla Inc. (NASDAQ:TSLA) had been under severe pressure related to the car's deliveries in the current quarter. Before the unveiling, Tesla CEO Elon Musk tweeted about the major markets where new Model 3 will be sold with India in the list. It is discontinuing a low-end Model S with its 60-kilowatt-hour battery pack on April 17, making the 75-kilowatt-hour Model S its cheapest vehicle at $74,500 before tax credits or state rebates until the Model 3 arrives.
Tesla's Model X SUV is catching up to its sedan-sized sibling, the Model S.
Incidentally, the cumulative number of orders Tesla processed for the quarter was even higher than its delivery count.
After a strong surge and trading around the highest level, investors are questioning whether it's the end of TSLA shares rally, or holding this stock could result in further gains. If the company moves at this rate, it will have to produce about 40,000 cars per month, which is more than what it produces as of now. The stock was at the time worth close to US$1.8 bn. The Motley Fool owns shares of and recommends Tesla. Companies like Google, BMW and all the world's major auto companies have major initiatives in the sector.