California, US (BBN)-Electric car maker Tesla has reported better-than-expected revenue growth as sales of the firm’s cars continue to grow.
Tesla said it manufactured 11,600 cars in the first three months of 2015, 1,000 more than it had been projecting.
That led to revenues of $893m (£586m), a 52% increase from a year earlier, reports BBC.
However, the firm still reported a loss of $154m, reflecting continued investment in research and new manufacturing facilities.
Tesla said it planned to increase production by about 12% and manufacture 12,500 cars in the second quarter of 2015, but warned that a strengthening dollar would continue to hurt its bottom line.
It said it would increase its prices by 5% in Europe to try an offset that loss.
After admitting earlier this year that its China sales were less than expected, Tesla said that it was seeing a recovery in the market. It said it was still on track to sell 55,000 of its Model S and Model X cars in 2015.
The company added that it was still on track for the launch of its battery factory – known as the Gigafactory – in the US state of Nevada in 2016.
Last week, Tesla announced it would manufacture batteries for home electricity use in addition to those for its cars at the facility.
Shares in the firm fluctuated in trading after US markets had closed, rising by nearly 5% before declining.
