Tesla's Q1 Delivery Numbers Foreshadow Multiple Growth Years: Gene Munster

Tesla Inc (NASDAQ: TSLA) said Friday that it delivered about 185,000 electric vehicles in the first quarter. This number came as a surprise after a chip shortage was expected to cause setbacks across the industry. 

Munster On Tesla's Q1 Deliveries: Gene Munster, founder and managing partner of Loup Ventures, was asked on CNBC about Tesla's surge in first-quarter sales and deliveries.

Tesla's story is one of growth, he said. 

"These stories are rare to find and usually the reason why these happen is that something bigger is going on and I think that is exactly what Tesla is tapping into. What we are seeing in the March quarter is just the beginning of multiple years," the stock analyst-turned-tech venture capitalist told CNBC. 

With tax credits anticipated for Teslas, "any rational Tesla buyer would have been holding off," he said, adding that 

Tesla was nevertheless able to produce numbers that exceeded expectations. 

Munster's Tesla Outlook: Munster was asked where he sees Tesla going from here.

In the next three to five years, it could be a much bigger company, he said — potentially four times its current size.

"It's impossible to predict Tesla in the near-term, but long-term I think this goes higher." 

TSLA Price Action: Tesla shares were up 5.25% at $646.49 at last check Monday. 

Image by Blomst from Pixabay.