DETROIT (AP) — Tesla Motors shares spiked by double-digits
Tuesday after the company said it sold nearly 1,000 more cars in the
fourth quarter than expected.
The electric car maker sold close to
6,900 Model S sedans in the final three months of 2013. That follows a
disappointing third-quarter tally of 5,500 vehicles sold.
Tesla’s
shares rose 11 percent to $154.76 in early afternoon trading and earlier
hit $156.65. The stock has more than quadrupled in value in the past 52
weeks, though it’s still well off its September peak of $194.50.
The
company made the sales announcement Tuesday at the North American
International Auto Show in Detroit. Tesla’s vice president of
international sales and service, Jerome Guillen, confirmed that the Palo
Alto, Calif.-based company’s Model X crossover will go into production
by the end of this year.
He also said the company plans to double
its sales and service locations in 2014. Tesla currently has 81 stores
and 66 service centers.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
DETROIT (AP) — Tesla Motors shares spiked by double-digits
Tuesday after the company said it sold nearly 1,000 more cars in the
fourth quarter than expected.
The electric car maker sold close to
6,900 Model S sedans in the final three months of 2013. That follows a
disappointing third-quarter tally of 5,500 vehicles sold.
Tesla’s
shares rose 11 percent to $154.76 in early afternoon trading and earlier
hit $156.65. The stock has more than quadrupled in value in the past 52
weeks, though it’s still well off its September peak of $194.50.
The
company made the sales announcement Tuesday at the North American
International Auto Show in Detroit. Tesla’s vice president of
international sales and service, Jerome Guillen, confirmed that the Palo
Alto, Calif.-based company’s Model X crossover will go into production
by the end of this year.
He also said the company plans to double
its sales and service locations in 2014. Tesla currently has 81 stores
and 66 service centers.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.