The world’s top electric car manufacturer surpassed Wall Street estimates in the 4th quarter, delivering a record 112,000 vehicles in the final months of 2019. The figure topped Tesla’s yearly sales goals as well as Wall Street’s prediction of 106,000 vehicle deliveries to customers.
Tesla CEO Elon Musk said the company expected to deliver between 360,000 and 400,000 of its electric vehicles during 2019. The number represents a 45 percent to 65 percent increase from the previous year. In all, Tesla’s final figure for 2019 stood at approximately 367,500 vehicles.
Tesla stock surged Friday morning during trading, with a more than 4 percent increase to $448, a 49 percent year-to-year growth.
Analysts closely monitor Tesla deliveries because they represent the closest proximation in sales numbers. Tesla said delivered means a car “is transferred to the customer, and all paperwork is correct.”
During the fourth quarter, Tesla said it delivered 19,450 Model S and X vehicles, and 92,550 Model 3 sedans. This beat its expectations that it would deliver 9,800 Model S vehicles, 9,300 Model X vehicles, and 87,900 Model 3 vehicles.
In all, Tesla delivered more vehicles than it produced during every quarter of 2019.
The Palo Alto, California-based car manufacturer said it would continue its focus on expanding manufacturing operations in the U.S. and China, where production capabilities have reached more than 3,000 units a week. Currently, Tesla ships its vehicles to locations all around the world.
At year’s end of 2019, Tesla announced that it was positioned to accelerate its growth through its new Shanghai production plant and through “increasing build rates on our existing production lines.”
Tesla has been reportedly making changes at its primary Fremont plant since multiple fires impacted its paint operations.