Tesla Motors Inc (TSLA): 22,300 Model S’ sold in 2013, 6,900 in Q4 2013 alone, software update being issued

Tesla Model S
Tesla Motors Inc (NASDAQ:TSLA) has delivered 6,900 Model S vehicles in the fourth quarter of 2013. This is 20% higher than the estimate that Tesla gave this past November, according to VP of sales Jerome Guillen. For the entire year of 2013, Tesla Motors delivered 22,300 Model S vehicles. Tesla said that nearly all of the Model S cars covered by a recall announced on Monday has received a software update to prevent chargers from overheating. The National Highway Traffic Safety Administration said that 29,222 cars in the U.S. are affected by this problem.

“While NHTSA may call this a recall, we call this modern technology,” stated Guillen. “We can make every car better over time without having to bring the car in.” The recall was for a plug that risks overheating during the charging. The defect was found in under 3% of the 29,222 adapters.

“No Tesla vehicles are being physically recalled by Tesla,” said Tesla Motors Inc (NASDAQ:TSLA) Elon Musk in a tweet. “The word ‘recall’ needs to be recalled.”

Tesla Motors Inc (NASDAQ:TSLA) issued a statement that says they are expecting fourth quarter revenues to exceed previous guidance by 20%. “A higher than expected number of cars was manufactured as a result of an excellent effort by the Tesla production team and key suppliers, particularly Panasonic,” said the statement. Tesla’s stock increased over 15% today due to the sales announcement.

Tesla Motors Inc (NASDAQ:TSLA) is constantly opening new Superchargers as well. Tesla Motors opened seven Superchargers last week and two today. Tesla Motors is going to begin production of the Model X SUV by the end of this year. Delivery of the Model X will start in the first half of next year.

[Source: Auto News]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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