Tesla (TSLA) Q4 2019 Vehicle Deliveries Beat Expectations
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In the fourth quarter, Tesla (NASDAQ: TSLA) achieved record production of almost 105,000 vehicles and record deliveries of approximately 112,000 vehicles (consensus was 106,000 deliveries). In 2019, the company delivered approximately 367,500 vehicles, 50% more than the previous year and in line with full-year guidance.
Tesla said they continue to focus on expanding production in both the US as well as their newly launched facility in Shanghai. Despite breaking ground at Gigafactory Shanghai less than 12 months ago, they have already produced just under 1,000 customer salable cars and have begun deliveries. They have also demonstrated production run-rate capability of greater than 3,000 units per week, excluding local battery pack production which began in late December.
Tesla said they want to thank customers, employees, suppliers, shareholders and supporters who made another record-breaking year possible.
The company said net income and cash flow results will be announced along with the rest of their financial performance when they announce Q4 earnings. The company said the delivery count should be viewed as slightly conservative, as they only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla 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 the cost of sales, foreign exchange movements and mix of directly leased vehicles.
|Production||Deliveries||Subject to lease accounting|
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