Tesla Sales Charge to Record High

Tesla Motors sold 10,030 vehicles last quarter, shattering a company record. Sales were up 55 percent from a year ago, as Tesla ramps up production of the Model S sedan that is still a hit with consumers.
5:26 | 04/06/15

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Transcript for Tesla Sales Charge to Record High
Okay. It's Monday April 6 the markets in New York are open a big number this morning 101030. So let's let Burkhardt nestled. In the first quarter of 2015 and it shattered the company record sales up 55%. From the same time last year ago. Elon Musk the company trying to rev up production of the model S with the sedan still out there indicate with consumers will open down Cutler in New York. So these model less sales are charging Tesla higher it's still getting radio for the Ries of its SUV model acts that's gonna happen to that sixteen debut. With more that he does not want to bring in Scott camp in the street Scott happy Monday morning to you. Good morning solicit of a big quarter protest the how the pull it off. Well look it was a big quarter you know sales rose 55%. Year over year the company looking they're they're becoming more mainstream. Prices are. In a becoming a little bit more stable in terms of the MSR piece for some of these cars and at some of their costs have gone down a little bit of course shares for the stock are still a bit erratic but. You know again this is a car company that's really in it for the long haul and they're really trying that. Disrupts what we know if the current you know car landscape so be certainly interesting to see how all this plays out. So the company says it's gonna sell 55000 cars this year up in fact 31000. From last year is that going to be enough though we're to turn actual profit. Well look at me is still in a big role. Phase this company is then and you know the cars are still rather expensive so what council's goal right now is going to be used to try to bring some of those costs down. Or is starting to see that happen lithium ion batteries are starting those prices are starting to false about could cut costs for Tesla and allow them may be bringing. Some of those MS RP prices back down to a level that's a bit more affordable there are also. Has had been talks about the company actually building its own battery factory so perhaps it could create batteries. At a cheaper cost and and that could of course helped bring. Prices for the cars down but. I think that's one of the main big curls for counselors in how they become more from mainstream car company. Like some the other ones and then that way they can really brand chatter and reach out to other customers who may be wouldn't necessarily consider Tesla. As our car on they are on their last. So hover your videos have been for their books and when you've got another hurdle is fact that you've got regulations like Virginia in fact one of the latest stance latest states. That actually bans the company's direct to consumer sales model on how much of a hindrance is that for the company to grow. Well look. I mean I think Ilan mosque treated. He was sort of pretty lighthearted about it the fact that West Virginia. With the latest state to ban Sal so. I'm not for Howard he is about West Virginia specifically but you know there are four other states that band Tesla sales were talking Garland Texas. I've Virginia Arizona so you know the whole notion here is that Tesla it sells cars directly to consumers they cut out the dealerships and so. The dealerships and in some of these states have really. Been pushing hard to get test fly out of there because they're concerned that this could set a new normal where auto manufacturers. Are selling cars directly to consumers are right now it's not that big of an issue for cast slot. Back into dealerships are more worried about other auto makers following this in of course West Virginia just pass this new law saying that. You know and accidents that a auto manufacturer can act as a dealer. So how much of of the strategy for success the company banking on the new model lacks that's what's becoming and then obviously it cheaper based monthly talking about that I was at these cards are not cheap. Try to make it a little more mainstream affordable. All right that's the goal I mean this model acts was first and bill back in 2012 and here we are three years later it's still not out yet although some reports suggest that the company might be able to start selling it. Towards the third quarter of 2015. I mean look is this going to be they could. You know mainstream hit that I think Wall Street is is hoping for of the jury is out. Certainly some of the feedback that the company has beginning have been pretty positive on the carpet of course. You know ought to wait and see it and told it is released if that even does happen in 2015. But again I think you know. Cars aren't the only thing on the along losses radar and you know this is just one idea he has up his lead that. You know Wall Street is looking for. Well in what is Wall Street and looking to get back into the excitement and in the stock's been down 25% past six months there. It's also been on 14% since the start of the year January was a pretty rough month for the stock. But of course Elon Musk has. Quite a way with words at least on Twitter last week he shocked Wall Street when he treated. At the company's unveiling a new product not a car on April 30 he wouldn't give any more Deke house but the stock rose about nine dollars per share. Just from not sweep alone so. It again I think Wall Street is is you know very bullish on Elon Musk himself and of course on the other issues surrounding the company I think they. They think we'll get worked out but of course with Elon Musk. At the controls people seem pretty bullish I'll acquaintance he's got gift from the streets got that you have good that. I can't keep up and let us have a different here on abcnews.com. You can watch the big number again.

This transcript has been automatically generated and may not be 100% accurate.

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