Retail

Tesla Delivers 112K Vehicles In Q4

Tesla Delivers 112K Vehicles In Q4

With a chart-topping fourth quarter that came out ahead of Wall Street estimates, Tesla delivered 112,000 vehicles around the world. The Street expected the electric automaker to deliver 106,000 vehicles in the quarter, which would have met the company’s annual 360,000-400,000 vehicle delivery goal, CNBC reported.

Tesla said it delivered 19,450 Model S and X vehicles as well as 92,550 Model 3 cars over Q4. According to a FactSet analyst average, the automaker was forecasted to deliver 9,300 Model X, 9,800 Model S and 87,900 Model 3 vehicles. In Q3 2019, Tesla delivered more vehicles than it made: It delivered 97,000 vehicles after manufacturing 96,155 vehicles, which made two personal records. The company sold 245,240 vehicles, with the inclusion of 145,846 Model 3s, in 2018.

Tesla’s deliveries are closely monitored in the space, as they are said to be a strong predictor of sales. According to CNBC, the number of vehicles that have been sold and delivered to drivers serves as a “barometer” of the firm’s performance before its quarterly earnings release.

Tesla’s stock was up approximately 2 percent in pre-market trading to about $440 per share, which is said to mark a 39 percent increase over the past year.

In separate news, Tesla CEO Elon Musk unwrapped the automaker’s Cybertruck all-electric pickup at one of the firm’s signature promotional events in Los Angeles, per reports in November. The vehicle, which was to start at $39,900, is designed in the form of a sizable metallic trapezoid. The Cybertruck, which is Tesla’s sixth vehicle model, is described as the most experimental since the company’s 2003 launch. The firm is planning for production of the lower-priced Cybertrucks to begin late next year, and the trimotor will follow the following year.

——————————

New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.

TRENDING RIGHT NOW