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Tesla (TSLA) Gets Last Laugh: Full-Year Guidance Met with Over 360k Deliveries, Model 3 Hits New Records

by Claribelle Deveza January 03, 2020

elon-musk-q4-2019-delivery-production-beat

Tesla (TSLA:NASDAQ) has released its Q4 2019 results. The company delivered a total of 92,550 Model 3s in the fourth quarter and met its 360K goal for the entire year for vehicles delivered. The company reported an output of 86,958 Model 3s.

For Q4, Tesla delivered a total of 112,000 units and produced 104,891. Besides its outstanding Model 3 deliveries, Tesla also produced 17,933 unit of the Models S and X and delivered 19,450 of its top tier vehicles. 

In total, Tesla delivered approximately 367,500 vehicles. According to the automaker's report, it delivered 50 percent more EVs than it did last year. 

Tesla’s delivery push was evident in the last month of 2019. Quite a few car carriers filled with Model 3s were spotted across the United States within the month of December. The same was true in Shanghai, with Gigafactory 3 starting the mass production of Model 3s even before Tesla received its sales license. 

Tesla-Q4-2019-Results

Credit: Wuwa Vision/YouTube

In the Netherlands, Model 3 deliveries reached a record high almost every single day in the weeks leading up to 2020. Sales in the Netherlands may reflect demand for the Model 3 in the whole of Europe. There was speculation during Q4 that Model 3s were already sold out in Europe for the remainder of 2019.

Elon Musk was also seen helping with last-minute deliveries at the Fremont Factory, along with his mother Maye Musk. The two Musks spent New Year’s Eve helping with Model 3 deliveries up to the last seconds of 2019.

During Q4 2019, Tesla rode the high tide from Q3’s outstanding results. TSLA dropped a couple surprises in the last months of the year. Construction on Gigafactory 3 in China was finished ahead of schedule in October. The Chinese government seemed to fully support Tesla’s Shanghai branch throughout its entire construction.

As a result, the GF3 received its licenses much faster. Gigafactory 3 received its final sales and distribution license in early December.

elon-maye-musk-q4-deliveries

Credit: Maye Musk/Twitter

Gigafactory 4 has also made some progress since Elon Musk announce Tesla’s new facility in Brandenburg, Germany at the 2019 Golden Steering Wheel Award. Preliminary preparation for construction in the GF4 forest has already started. The purchase contract for the forest has also already been signed by Brandenburg officials. The Tesla board still needs to approve GF4’s purchase contract, but it seems both parties have reached an agreement that is beneficial for both sides.

Following is Tesla’s press release on its 2019 production and delivery results.

Tesla Q4 2019 Vehicle Production & Deliveries

PALO ALTO, Calif.Jan. 03, 2020 (GLOBE NEWSWIRE) -- In the fourth quarter, we achieved record production of almost 105,000 vehicles and record deliveries of approximately 112,000 vehicles. In 2019, we delivered approximately 367,500 vehicles, 50% more than the previous year and in line with our full year guidance. 
  Production Deliveries Subject to lease accounting
Model S/X 17,933 19,450 14 %
Model 3 86,958 92,550 7 %
Total 104,891 112,000 8 %

We continue to focus on expanding production in both the US as well as our newly launched facility in Shanghai. Despite breaking ground at Gigafactory Shanghai less than 12 months ago, we have already produced just under 1,000 customer salable cars and have begun deliveries. We 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.

Lastly, we want to thank our customers, employees, suppliers, shareholders and supporters who made another record-breaking year possible.

Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q4 earnings. Our delivery count should be viewed as slightly conservative, as we 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.



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