The numbers are in, and Tesla says it delivered 25,000 electric cars globally in the first quarter of this year, from January through March.

That's a new quarterly record for the Silicon Valley company, which delivered 76,230 cars last year.

Analysts and Tesla fans had eagerly watched for this number, as they do all Tesla financial information.

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The Q1 deliveries may signal that demand for its two existing models will stay relatively steady until substantial numbers of the Tesla Model 3 are delivered.

The lower-priced Model 3 is supposed to go into production this summer, with deliveries in volume by the end of this year.

Meanwhile, however, Tesla has to continue earning revenue from its two existing products, with the five-year-old Model S remaining its mainstay.

2016 Tesla Model X

2016 Tesla Model X

Of the 25,000 cars delivered, 13,450 (or 54 percent) were Model S sedans and 11,550 were Model X crossover utilities.

Tesla noted that the final delivery number could vary by up to 5 percent, as "we only count a car as delivered if it is transferred to the customer and all paperwork is correct."

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The company produced 25,418 vehicles during the first quarter, also a record.

Tesla said its vehicles-in-transit number was 4,650, lower than the previous quarter's 6,450. Those will be counted as sales in the current quarter.

First release candidate Tesla Model 3 electric car, from video tweeted by Elon Musk, March 2017

First release candidate Tesla Model 3 electric car, from video tweeted by Elon Musk, March 2017

Yesterday's announcement keeps the company on track to meet its projected first-half delivery goal of 47,000 to 50,000 cars.

Contrary to its usual practice, Tesla did not project full-year deliveries, likely reflecting the uncertainty over the pace of Model 3 rollout in the second half of the year.

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Tesla CEO Elon Musk has said in the past that the company's goal is to deliver 200,000 cars this year, and 500,000 next year.

While industry analysts consider those goals unrealistically optimistic, commentary yesterday and this morning indicates that the first quarter's solid delivery number was well received.


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