This archive report was first published on 3 January 2020.
On January 3, 2020, Tesla announced a record-breaking fourth quarter in 2019, producing over 100,000 vehicles and delivering 112,000 cars. This achievement puts the company's yearly deliveries within the range it had promised.
According to the electric-vehicle maker, the high demand for its vehicles is a sign of the company's success as it enters 2020 amid a global expansion. Tesla's manufacturing presence in China is also a significant factor in its growth, with cars beginning to roll off a Shanghai assembly line.
Analyst Pierre Ferragu of New Street Research noted that delivering more cars than produced would enable Tesla to continue its expansion, including its manufacturing presence in China. He stated, 'When you deliver more cars than you produce, you get into your bank more cash than you spent.'
Tesla's total deliveries for 2019 reached 367,500, a 50 percent increase from 2018. The company had forecast deliveries of 360,000 to 400,000. This achievement marks a significant turnaround for Tesla, which lost $1.1 billion in the first half of 2019 but turned a corner in the second half.
Since October, Tesla's shares have soared, with the stock closing at $430.26 on Thursday and rising over 4 percent after the announcement. The stock has also crossed a milestone price of $420 a share, which Elon Musk had previously stated would be the price at which he had 'funding secured' to take the company private.
