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Tesla deliveries set a record and extend red-hot run for shares

The electric-vehicle maker handed over 92,550 Model 3 and 19,450 Model S and Model X electric vehicles in the fourth quarter, according to a statement

Bloomberg 

Tesla deliveries set a record and extend red-hot run for shares

Tesla shares opened at new highs after the electric-car maker reported a new record for quarterly deliveries of 112,000 units in the final three months of 2019.

The electric-vehicle maker handed over 92,550 Model 3 and 19,450 Model S and Model X electric vehicles in the fourth quarter, according to a statement, eclipsing its previous total best of 97,000 set in the prior three months. Tesla delivered 367,500 vehicles total in all of 2019, topping the low end of its forecast for at least 360,000.

The results add to the momentum Chief Executive Officer Elon Musk ended last year with following a surprise quarterly profit reported in late October.

To stay on a roll, Tesla will have to overcome the ceasing of federal tax credits for its vehicles in the US and less-generous support from the Netherlands, which generated huge demand with tax incentives that expired at year-end.

First Published: Sat, January 04 2020. 02:04 IST
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