Tesla Beats Estimates With a Record 112,000 Cars Delivered in Fourth Quarter

Tesla delivered a record 112,000 vehicles globally during the fourth quarter. Analysts expected Tesla to deliver 106,000 vehicles to customers during the fourth quarter. Elon Musk and Tesla had talked about delivery goal of between 360,000 and 400,000 vehicles in 2019. Tesla delivered approximately 367,500 vehicles in 2019 which was a 50% jump from 2018.

The electric-car maker said it has produced just under 1,000 cars that are ready for sale at its new factory in Shanghai. Tesla started delivering vehicles to Chinese customers late last month.

The first quarter of 2020 should see significant deliveries from the China factory. The fourth quarter 2019 record was achieved without meaningful China deliveries.

Tesla stock traded above $450 today and has been around $445.