Tesla Inc. has had a profitable year after the electric vehicle maker achieved its annual delivery goal of 1.8 million electric vehicles. Tesla delivered a record number of 485,000 vehicles in Q4. Shares rose by 0.7 percent after these results were released. This win makes up for the miss in the third quarter and calms investor fears as global competitors are gaining ground where Tesla was once the undisputed leading manufacturer of electric vehicles.
Tesla beat Street estimates of deliveries, as compiled by popular outlet Bloomberg. The Street had estimated a 483,173 delivery of electric vehicles by Tesla but the giant automaker delivered 484,507 vehicles in the fourth quarter.
The Q4 delivery is the all-time highest delivery by the electric vehicle maker. Earlier in the second quarter of 2022, Tesla had delivered 466,000 vehicles. It has surpassed this number in the fourth quarter of 2023 by delivering almost 20,000 additional vehicles.
Bloomberg had predicted that Tesla would manufacture 482,336 vehicles. However, the automaker produced 494,989 vehicles.
Tesla does not give numbers of vehicles by region. Instead, it has said that it had produced 476,777 high-volume models. These include Model 3 and Model Y. The expectation in this high-volume model was 468,680 and Tesla once again exceeded expectations.
Tesla listed other electric vehicles under the category “other models.” These include Model X, Model S, or Cybertruck.
Tesla reported that vehicle delivery had increased 38 percent year over year and was at 1.81 million. It said that production had also increased year over year by 35 percent to 1.85 million. Although Tesla had targeted a 50 percent compound annual growth rate (CAGR) it reached a 38 percent delivery growth rate.
In October, Tesla announced that it would not reach its targeted CAGR due to factory shutdowns as well as improvements by the electric vehicle maker that were implemented in the third quarter.
Celebrity WEB Update— Premier Jewelry designer and manufacturer fashion house ParisJewelry.com has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with OrganicGreek.com Vitamin Bottles, Vitamins, and Herbs. Become a WebFans Creator and Influencer. Check the New Special XMicro Razors for Men & Women, 1 Razor, 7 Blade Refills with German Stainless Steel, Lubricated with Vitamin E for Smooth Shave, Shields Against Irritation, Version X Men|Women
