Musk sets sights on a record Tesla quarter

A Tesla Inc. Model 3 right and a Model S electric automobile recharge at a charging station beside a canal in Amsterdam Netherlands on Monday

Tesla is serious about a possible record quarter, not so serious about a submarine car

Tesla Inc has "a decent shot at a record quarter on every level", Chief Executive Officer Elon Musk said at the company's annual shareholder meeting on Tuesday, soothing concerns about weak demand for the electric auto maker's sedans.

Musk, speaking at the annual shareholder meeting in California, also said:"if you buy a gasoline auto that is not self-driving, it's like riding a horse and using a flip phone".

Tesla's stock rose 3.6% to $225 in extended trading.

It's unclear how advanced the designs for a submarine auto are, though: it could realistically be anything from a detailed 3D model to a crayon sketch on Elon Musk's fridge.

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Tesla previously said it plans to deliver 90,000 to 100,000 vehicles to customers in the second quarter versus 63,000 vehicles in the first.

Musk also hinted that the company has a design for what he called a "submarine vehicle", which he believes would attract a small, yet enthusiastic, market.

The goal is to deliver 360,000 to 400,000 vehicles this year, according to Reuters.

"Sales have far exceeded production and production has been pretty good", he said, adding that in fact there was a good chance Tesla will be able to report a record profit next month after the end of this quarter. While the Model Y is still on track to launch in 2020, the company hopes to unveil its pickup truck toward the end of this summer.

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