The rest of the year is up for grabs and buoyant due to overwhelming response from buyers the automobile company is all set to up its productions in the coming times. In keeping with the manufacturer directive, production has speeded up at their San Francisco assembly plant and plans are going on to tap new markets in Asia and Europe.
No wonder Wall Street is in frenzy and shares from Tesla have surged by over twenty-four percent immediately following the announcement of their 1st quarter earnings. This is surely uplifting news for the company, which has been grappling with significant low, points last winter. However, short sellers holding over forty percent of shares are not happy, because they find their chance slipping away now that tides for the company have turned.
The huge success of Tesla sadly does not reflect the present automobile market. Fisker Automotive, the much-ballyhooed car manufacturing company recently signaled impending bankruptcy and in the process have terminated the services of over three quarters of their workforce. Similarly, Coda, the well-known battery carmaker has filed Chapter 11. Even, Chevrolet Volt has suddenly lost its momentum.
Nissan Leaf is the only other electric car model, which shows a significant sale after slashing their prices and shifting to US market with production base at Tennessee. Spotlight presently is on Tesla and it is surging ahead of its competitors with increased sales and high demands.
Besides the high sales, the manufactures are doubly jubilant because the beginning of the Model S story was less than stellar. The launch of the battery car postponed because of a slower start to manufacture than predicted at their old Toyota production plant. The Tesla success story is bound to inspire other battery carmakers in coming times to tap the potential of this largely ignored sector in the U.S. markets with a surge in production of such environmentally friendly cars.
