Tesla delivers a record of 25,000 vehicles in Q1

On Sunday, Tesla Inc. the US luxury electric car maker, said first-quarter vehicle deliveries jumped 69% from a year ago to a quarterly record of 25,000 vehicles, bouncing back from delays in the previous quarter.

The company said of the total vehicles delivered, about 13,450 were Model S sedan and about 11,550 were Model X sports utility vehicle.

Tesla has said it expects to deliver 47,000 to 50,000 Model S and Model X vehicles combined in the first half of 2017.

In the fourth quarter, deliveries had fallen 9.4% due to short-term production hurdles from the transition to a new autopilot hardware.

Ultimately, about 2,750 vehicles were missed being counted as deliveries in the fourth quarter either due to last-minute delays in transport or because the customer was unable to physically take delivery.

Tesla said in a statement that in addition to the first quarter deliveries, about 4,650 vehicles were in transit to customers at the end of the quarter and will be counted as deliveries in the second quarter.

Production in the first quarter also hit a quarterly record at 25,418 vehicles.

Tesla Chief Executive Elon Musk has taken big risks repeatedly since going public in 2010, but investors got spooked after he said in February the electric car company could get “close to the edge” as it burns cash ahead of its crucial Model 3 launch.

Shares of Tesla closed up slightly at $278.30 on Friday on the Nasdaq and have soared more than 30% so far this year.