Tesla Records 70% Rise in Quarterly Sales

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Tesla records 70% rise in quarterly sales; Tesla has shipped 24,500 cars in the third quarter of 2016 as exports increase

American EV maker Tesla has seen a sharp rise in car delivers in the third-quarter of 2016. On Sunday the company has informed that, its car delivery has seen a 70% rise, which takes it closer to the second-half 2016 target of 50,000 units. The company claims, this success came after production increased and also introduction of cheaper lease deals and offering discounts on some cars.

Also, the American EV maker says, it will take the fourth-quarter delivery up than the third-quarter. In last two quarters, the company missed targets, and now with all the factors working in favor of it, Tesla is expecting better result in last quarter of 2016 as well.

Tesla Model X

Tesla is working hard to raise cash, which will help it begin production of its much hyped Model 3 sedan. The success in third-quarter target reaching will surely help it to achieve that goal as well. The company is hoping to raise funds from equity market later this year. Also it is increasing production gradually in every quarter. In July Tesla announced, it will increase production up to 2,200 cars in third quarter from 2,000 units, while in fourth-quarter the figure will reach 2,400.

Apart from financial troubles, Tesla is also facing criticism over its autopilot system. The Tesla autopilot system, which has once been the USP of its cars alongside electric powertrains, has been making headline across the world for erroneous activities recently. The erroneous autopilot system has been involved in some deaths as well. Apart from that, several Tesla cars were reported catching fire.

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Tesla showcased the Model 3 sedan earlier this year, which garnered vehement interest. This is also the first Tesla car, going to be launched in India. The American EV maker is also planning to set up a manufacturing plant in India, post Model 3 launch in the country.