Photo courtesy of Tesla.

Photo courtesy of Tesla.

Tesla Motors hopes to deliver 55,000 vehicles in 2015, including its Model S and upcoming Model X, the company announced as part of its first-quarter earnings.

If Tesla hits its target, the company would increase deliveries by 74 percent over 2014, as it moves to expand its line-up. For the quarter, Tesla built 10 percent more vehicles (11,160) than its prior guidance. The company leased 592 cars during the quarter.

Tesla also updated its schedule for the Model X SUV, which will be released in the late third quarter.

For the quarter, Tesla lost 36 cents per share on adjusted revenues of $1.1 billion. A year ago, Tesla earned 2 cents per share on revenues of $761.3 million.

Originally posted on Automotive Fleet