Tesla’s new car factory in Shanghai.
(Barcroft Media / Getty Images)
$441.91
Tesla Inc. said it delivered 367,500 vehicles in 2019, achieving the sales forecast issued by Chief Executive Elon Musk and propelling its stock to a new record high.
The Silicon Valley automaker finished 2019 on an upswing. Last year it opened a new manufacturing plant in China, scored a rare profit in the third quarter, and saw its stock price soar to record highs.
Tesla needed to deliver 104,000 vehicles in the fourth quarter to meet Musk’s 2019 forecast of between 360,000 and 400,000 vehicles.
Tesla delivered 112,000 vehicles in the fourth quarter. Of those, 92,550 were Model 3s, a growth rate of 16.3% over the previous quarter and 46% above the fourth quarter of 2018. The more expensive and aging Model S sedan and Model X SUV models saw a combined 19,450 deliveries for the quarter. That’s 11.8% higher than the previous quarter, but 37% below the fourth quarter of 2018.
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