Tesla delivered a record 112,000 vehicles globally during the fourth quarter, achieving CEO Elon Musk’s year-end sales goal.
The lower-cost Model 3 accounted for 83% of the company’s fourth-quarter sales at 92,550. The higher priced Model S Sedan and Model X large SUV made up the rest.
Tesla said it delivered approximately 367,500 vehicles last year, an impressive 50% jump from 2018. It had forecast deliveries of 360,000 to 400,000 for the year, and analysts say the company could deliver as many as half a million vehicles in 2020.
| Production | Deliveries Subject to lease accounting | |||
| Model S/X | 17,933 | 19,450 | 14 | % |
| Model 3 | 86,958 | 92,550 | 7 | % |
| Total | 104,891 | 112,000 | 8 | % |
Tesla continue to focus on expanding production in both the US as well as in the newly launched facility in Shanghai. Despite breaking ground at Gigafactory Shanghai less than 12 months ago, Tesla has already produced just under 1,000 customer salable cars and have begun deliveries. The company has also demonstrated production run-rate capability of greater than 3,000 units per week, excluding local battery pack production which began in late December.
The sales increase should bode well for Tesla’s fourth-quarter and full-year earnings next month.
Shares of the electric-car maker surged more than 4% in morning trading to $448, a 49% rise over the last 12 months.
