Tech Giant Elon Musk has often been vocal about his visions of the future of transportation. But from voicing out his plans, he has now resorted to predicting the sales of his automobile company as it plans to launch its long awaited Model X later this year.
In a conference held at Allen & Co. Media in Sun Valley, Idaho, Musk announced that he expects their company sales to double annual revenue figures all because of the introduction of the Model X crossover to the market.
Model X shares the same speed, comfort, and convenience that made Model S popular. But this time, Model X aims to catch and dominate the attention of the SUV industry. More than 20,000 orders have already been placed for the latest addition to Tesla Motors, with 7,000 vehicles expected to be delivered this year.
More orders are expected later on, especially when the company starts full production of the vehicle in 2016.
Tesla Motors is no stranger to a spike in sales. Model S, the successful predecessor of Model X, had 32,000 deliveries in 2014 with an expected growth reaching up to 48,000 this year.
21,552 Model S vehicles were delivered this year. Following Tusk’s announcement, that means the company is expecting Model X to contribute largely to reaching their target sales of 55, 000 vehicles.
If Tesla Motors fulfils its year end expectation with Model X, then reaching their 2020 target would seem more likely.
By 2020, the company expects to release 500,000 cars. To reach this goal, Tesla Motors is making their products more inclusive to the market especially with the launch of Model 3 in 2016. Model 3, their first mass market EV, would cost $35,000, as opposed to the more than $70,000 cost of any of its predecessors.