Percent Surge: Year and Sales Declines

percent surge: That was enough to send the electric carmaker's stock soaring Monday, even as investors punished major car brands for reporting lower-than-expected March sales, according to The Japan Times. Tesla said it delivered 25,000 of its high-tech vehicles in the January-March period a 69 percent surge compared to the first three months of 2016 indicating it was on its way to meeting its goal of 50,000 vehicle deliveries by mid-2017. Many major automakers reported U.S. sales declines in March compared with a year ago, but Tesla over the weekend said it saw a huge jump in vehicles delivered to consumers in the first three months of the year. Late last year, the company reported its first quarterly profit in more than three years, but then slipped back into unprofitability in the following quarter. Tesla overtook Ford for the No. 2 spot and closed the gap with GM, the biggest U.S. automaker by market capitalization. Investors still rewarded the company on Monday, with stock movements reshuffling the hierarchy among U.S. carmakers. (news.financializer.com). As reported in the news.