Finally, Tesla Motors meets low end target for vehicle deliveries

Finally, Tesla Motors meets low end target for vehicle deliveries

Tesla Motors has announced that the company shipped 17,400 vehicles during fourth quarter and it has met the low-end of its target of 50,000 vehicles in a year. Tesla gets good response for its vehicles but the company hasn’t been able to meet the demand and shipping was always lagging behind the schedule. In 2015, Tesla Motors delivered 50,580 Model S and Model X SUVs.

In February 2015, Elon Musk had set a target of 55,000 vehicle deliveries in 2015. However, the target was later revised to 50,000 – 52,000 electric cars. Tesla Motors has improved manufacturing facilities. Musk also indicated in last communication to shareholders about the company planning to increase its manufacturing capacity.

Six Model X SUVs were delivered to customers at an event organized by Tesla Motors on September 29. The company has received positive response for Tesla Model X.

Tesla Motors said, “Model X deliveries are in line with the very early stages of our Model X production ramp as we prioritize quality above all else.”

Tesla was producing 238 Model X vehicles per week by the last week of 2015, the company said.

While global adoption of electric vehicles has been slow, Tesla has been the U.S. pioneer in luxury electric cars.

Investors are counting on the Model X, an SUV designed to compete with those from luxury automakers, to make the company profitable after years of losses.

The company press release informed....

Q4 deliveries consisted of 17,192 Model S vehicles and 208 Model X vehicles. (507 Model X vehicles were produced during Q4 with the remainder to be delivered in early Q1.)

Q4 Model S deliveries were approximately 48% more than our prior quarterly record and approximately 75% more than Q4 last year. Model X deliveries are in line with the very early stages of our Model X production ramp as we prioritize quality above all else. That ramp has been increasing exponentially, with the daily production rate in the last week of the year tracking to production of 238 Model X vehicles per week.

Our vehicle deliveries represent only one measure of our financial performance and should not be relied on as an indicator of our 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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