Tesla Motors Inc (NASDAQ:TSLA) reported impressive sales figure for Q4. The company reported Tuesday that it sold 6,900 Model S sedans during the December quarter, 20% higher than the company’s own guidance and 25% higher than the third quarter sales. That was expected as Tesla Motors Inc (NASDAQ:TSLA)’s robust production pace had signaled. And nobody expects the electric vehicle maker to have reckless growth this year.
What did Tesla VP say?
Tesla Motors Inc (NASDAQ:TSLA)’s vice president for sales and service, Jerome Guillen, addressed a press conference during the Detroit auto show. He spoke, “What’s in store for 2014? It’s growth, growth and growth. On the sales and service side, it’s reckless growth.” Guillen might not have realized the seriousness of the word, but it spread instantly in the media.
Finally, the company’s founder and chief executive Elon Musk came forward to defend him. Musk told Chris Isidore of CNN Money that what Guillen really meant is Tesla Motors Inc (NASDAQ:TSLA) will have a “relentless” growth in 2014. Musk added that Jerome Guillen is French, so his selection of word might not have translated correctly.
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Tesla shares surge on sales beat
Investors were not worried about Guillen’s error at all. The stock surged more than 16% on Tuesday after Guillen announced that Tesla Motors Inc (NASDAQ:TSLA)’s sales have exceeded expectations by a fair margin. During the press conference Guillen also talked about other things. He said the biggest hindrance to Tesla Motors Inc (NASDAQ:TSLA)’s sales is the difficulty in finding the right people for the sales and service positions to open new stores.
What disappointed Tesla Motors Inc (NASDAQ:TSLA) enthusiasts is that the company didn’t unveil the Model X crossover. The vehicle is still under development, and is expected to hit the market later this year. Automakers usually unveil their upcoming vehicles at auto shows, so some were expecting the company to showcase the Model X. But Tesla Motors Inc (NASDAQ:TSLA) is not known for following industry rituals; it has its own ways. Jerome Guillen told media that work on the next-gen Model S is proceeding well. It is expected to cost 50% less than the current Model S’s $70,000.
Tesla Motors Inc (NASDAQ:TSLA) shares surged 1.65% to $166.84 at 10:05 AM EST.