Giant electric automaker Tesla Motors Inc. (NASDAQ:TSLA) continues to enjoy an impressive run in the auto industry at the back of its electric vehicles that continue to receive positive reviews, as well as massive orders especially from China. Last year, Tesla estimated that it would sell 21,000 cars as production continued to ramp up from 400 cars a day to 500 cars, this year the automaker is in line to produce 35,000 cars, highlighting its growth potential in terms of production.
Wedbush Analyst, Craig Irwin, in an interview on CNBC last year, emphasized that Tesla Motors Inc. (NASDAQ:TSLA) was in line to enjoy a boost in the market. The sentiments were an understatement; Tesla was at the time trading at the $156 mark. One year down the line, the company’s stock is at a high of $256.
“It is difficult to say, I mean this one has been so low from big up days to big down days, low compared to other clean techs. It has had a very low level of volatility until just a couple of months ago, so I expect that volatility will go up. It’s quite possible we could see this bounce back around from here,” said Mr. Irwin.
Concerns had been raised’ last year that Tesla Motors Inc. (NASDAQ:TSLA) would face some of the problems that some of the other automakers have been known to face in the industry, especially on recalls. One year down the line, Tesla is one of the few makers that has not been subject of recalls like General Motors Company (NYSE:GM) or Ford Motor Company (NYSE:F).
Irwin had suggested that Tesla would continue to surprise people, especially on its green energy vehicles. The company looks to have evolved pretty fast over the past one year as it continues to engage in a massive roll out in China and is planning to build a mega battery factory.
The auto industry might be growing at a slow pace as echoed by Irwin but not to Tesla Motors Inc. (NASDAQ:TSLA). The giant electric company continues to initiate projects such as charging stations in various markets where the company is enjoying an impressive reception
“Tesla is evolving so amazingly fast I mean there is chatter about you know about the Google car an autonomous driving technology. Reality is that could be a gen-free vehicle when it is on the road 15-16. So you know evolution is something that happens, typically very slowly in the auto industry. Tesla I think is going to surprise people there,” said Irwin.
Irwin had also suggested that Tesla would most probably continue operating as a standalone company instead of being acquired by a giant tech company like Google Inc. (NASDAQ:GOOG); this has been true taking into consideration there has not been talk about a possible merger.