Hitting their sales target
Tesla’s worldwide deliveries increased over 50% since last year. This increase means Tesla hit their predictive sales target, surprising skeptics and delighting investors. Tesla 2019 sales numbers were not expected. The news pushed up Tesla shares over 4% achieving a record $449.37.
Tesla early projections were between 360,000 and 400,000 units globally. They delivered around 367,500 vehicles for 2019. That number includes a quarterly new record: 112,000 units sold in the fourth quarter of 2019.
While the Model S and Model X made up just 17% of sales, the Model 3 accounted for 83% of the company’s fourth-quarter sales with 92,550 units moved.
A note of caution
On Friday, Tesla stated that the sales figures are slightly conservative. They could vary by 0.5% or more when final numbers are out. “Vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors” including cost of sales, foreign currency fluctuations and the mix of leased versus sold vehicles, Tesla’s said. – – USNews
Tesla lost $1.1 billion over the first half of 2019 and losses have been commonplace since going public. Still, Tesla posted a $143 million profit in the third quarter of 2019.
The 2020/21 production future for Tesla looks impressive. They are opening up their production plant in Shanghai, China and hope to build up to 3,000 units per week. Tesla is reportedly putting the finishing touches on the Tesla Model Y crossover and the buzz on the upcoming Cybertruck has investors along with fans – excited.
2020 could be a breakout year for Tesla – that is if they can meet or beat expectations