Tesla releases performance figures for the third quarter

Tesla (TSLA) released its performance report on Sunday and according to it, the luxury car manufacturer is said to have sold 24,500 vehicles in the previous quarter, in comparison to the 11,603 it sold during the same time in 2015. Most of the vehicles sold were of Tesla’s Model S in the third quarter as well as the new Model X SUV of which it delivered around 8,700 in latest quarter. For buyers looking to make the transition to an electric vehicle both models seem like expensive options. The Model S is priced from $66,000 and the Model X at $83,000. However, CEO Elon Musk plans on launching the company's first car for the mass market, which is set to go at $35,000. However, Tesla could face tough competition from GM, whose Chevrolet Bolt will make an appearance on the market later in the year and is priced from $37,495.