Tesla Stock Pops: Its Model S and X Shipments Are Growing

TSLA is about to hit a new high. It surged to $ 804.14 earlier this week, an instant 4.7% gain. The same thing happened on October 7 before the close of trading. The current price is $ 793.54. Tesla, a manufacturer of electric vehicles and electrical energy storage solutions, announced it had started production of Model S and X after a long pause.

After a long pause, the growth of production is gaining momentum. Combined shipments of Tesla Model S and X in the third quarter surpassed 9,000 units, up 400% from the previous quarter. Shipments could grow even more. Tesla still has a long way to go before its redesigned two-car production lines are fully utilized. The total deliveries of the two vehicles were down 39% from last year. Nevertheless, given the positive trajectory of demand for Tesla vehicles in general, and given that shipments of Model S and X vehicles were significantly higher prior to the production suspension, it is likely that quarterly high-end car shipments will jump again sharply in the fourth quarter.