Tesla Post Record First-Quarter Sales

Tesla Inc. reports its deliveries of electric cars in January-March jumped 70% to a record 25,000 units compared with the same period in 2016. Last year the company sold 76,200 EVs.

Tesla delivered nearly 13,400 of its $76,300 Model S sedans and 11,600 of its $88,300 Model X crossover vehicles in the first quarter this year. Both cars ride on the same platform.

In July the company aims to begin pilot production of its Model 3, a $35,000 midsize sedan. Tesla hopes the car, to be followed by a crossover variant, will push its annual output to 500,000 cars by 2018.