SHARES of Tesla Motors Inc. surged to their highest in six months early Friday after the electric carmaker said orders for its new Model 3 sedan, its first car aimed at the mass market, had sped past 130,000 in the first 24 hours.

    Analysts questioned whether and how soon Tesla would be able to meet intense demand for the stylish compact sedan priced from US$35,000.

    The Model 3, considered a make-or-break product for Tesla, was unveiled late Thursday by chief executive Elon Musk.

    A survey by brokerage Evercore ISI ahead of the unveiling showed investors had expected about 55,000 orders during the first 72 hours and 117,000 by the end of the year.

    Musk said the four-door car, which will travel 215 miles on a single charge, will go into production next year and be ready for deliveries in the United States in late 2017.

    RBC analyst Joseph Spak said Tesla may not be able to fulfill many of the early orders before 2019: “Demand was never really our concern, it is more about execution and getting production up to meet demand.”

    Up to Thursday’s close, Tesla’s stock price had soared 60 percent since hitting a 12-month low in February as investors bet on the success of the Model 3.

    The stock surged 8 percent shortly after the opening, then slowed to US$235.76 at mid-morning, up 2.6 percent.

    The unveiling “exceeded all expectations,” Evercore ISI analyst George Galliers said in a client note.

    The Model 3 is crucial for Tesla to reach its goal of selling 500,000 cars per year by 2020, a target some analysts continue to question.

    Tesla, established in 2003, had sold less than 110,000 vehicles in its history through December, Sanford C. Bernstein analysts noted.(SD-Agencies)