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The Market May Be Underestimating Tesla's Potential In Europe

The announcement by Tesla (NASDAQ:TSLA) that they had sold 10,030 vehicles in Q1 2015, up 55% from last year, brought a smile back to the faces of bulls and sent bears trailing back to their caves. The share price rose over 6% in a session and analysts in general are bullish on the share price. Some may well upgrade their target numbers based on the latest sales figures.

As well as being 55% up on the same period last year, the sales number was also the highest ever quarterly number. Elon Musk is targeting sales of 55,000 vehicles for 2015, compared to 32,733 vehicles last year. From a demand point of view this 55,000 target now looks very achievable, though there may be problems from a supply point of view. The Q1 figures are good but it is the Model X in the fourth quarter which might allow Tesla actually to achieve its target. Read more