NEW YORK (TheStreet) -- Tesla Motors (TSLA) - Get Report shares were moving higher in early trading Friday after the electric vehicle maker said it delivered 11,507 Model S vehicles in the second quarter, a new company record.
The results, released Friday morning, represent an increase of 52% year over year. Tesla delivered 7,579 vehicles in the second quarter of 2014. Tesla noted that there may be a change of under 1% to the company's actual numbers when it reports second-quarter results, since Tesla "counts a delivery if it is transferred to the end customer and all paperwork is correct."
Unlike other automakers, Palo Alto, Calif.-based Tesla does not release monthly sales data, preferring to keep its numbers close to the vest. The practice of releasing quarterly sales numbers started last quarter, with the company stating it "decided to take this approach, because inaccurate sources of information are sometimes used by others to project the number of vehicle deliveries."
Shares of Tesla were higher in Friday trade, gaining 2.5% to $275.94.
So far, the company has delivered 21,552 Model S vehicles in 2015. CEO Elon Musk has stated the company's goal this year is to deliver "about 55,000 Model S and Model X vehicles," a figure which would represent a 70% year-over-year increase.
The Model X, currently in beta testing, is slated to begin selling in the third quarter of this year. Musk said previously that the Model X would arrive in the latter part of the quarter, implying deliveries would likely start around September.
"So it would be easy for us to kind of do some initial deliveries in August," Musk said in May on the company's first-quarter earnings call. "That would be pretty easy. But then... we have had door handle issues -- like people are aware of that with the S. They don't want to have buckling door issues with the X. We want to iron everything out and make sure it's good and then deliver at high volume."
Since the start of the year, shares have gained 21%, vastly outpacing the gain in the broader Nasdaq. Investors have seen the benefit in electric vehicles, as well as the company's energy storage capabilities.