Tesla’s Shares Reach Record Levels After Announcing Record Deliveries
Tesla announces delivery of a record 112,000 cars in the last quarter of 2019, beating forecasts of 103,000. This made its shares soar to new heights.
Thus, it means Elon Musk’s company made deliveries of 367,500 vehicles last year, within its guidance of 360,000 to 400,000.
“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.”
Analysts’ predictions forecasted sine July 2019 that Tesla may break the 100,000 figure for electric car delivery in one quarter.
It had aimed to hit the record numbers in the previous quarter. However, it announced in October 2019 that it had delivered only 97,000 cars.
Shares jumped almost 5pc to $451 in New York above the $420 mark at which Elon Musk controversially attempted to take the company private in 2018.
He made claims to have the “funding secured” to do so in a tweet, which led to a dispute with the US Securities and Exchange Commission.
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The Telegraph said on this increase in shares:
“Tesla’s recent share price rally is following an increase in car production in China, strong customer interest in its upcoming Cybertruck and a quarterly profit announced in October.”
Tesla’s China factory doing well
It also said that its new factory in China produced “just under” 1,000 cars that are ready to be delivered.
Tesla’s Fourth-quarter production was 104,891 vehicles, including 86,958 Model 3s and 17,933 Model S/Xs.
“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,” Tesla stated.
Tesla shares have rocketed 91.1% over the past three months to lift Tesla’s market capitalization to $80.3 billion.
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