Oct 05, 2016

    Tesla Q3 deliveries accelerate 70% to 24,500


    TESLA Motors has announced that its third-quarter deliveries rose 70 per cent to 24,500 cars, following production improvements, cheaper lease deals and reports of discounts.

    Deliveries are a key metric of performance for the luxury electric vehicle manufacturer, which had missed these targets in the previous two quarters.

    The improved deliveries for the third quarter bring Tesla closer to meeting its second-half 2016 target of 50,000 vehicles.

    Meeting the third-quarter target was a priority for the money-losing carmaker.

    It hopes to raise funds later this year for multiple efforts, including building out its factory for the Model 3 mass-market sedan due in 2017 and planned acquisition of SolarCity.

    Last week, chief executive Elon Musk published a memo telling employees to follow the company's policy of not offering discounts on new cars.