Tesla Motors said that it delivered around 367,500 vehicles during 2019, narrowly surpassing the low end of its target of 360,000 to 400,000 vehicles for the year.
The electric car maker has announced the Q4 results of 2019, saying that it has delivered around 112,000 vehicles during that period, including 92,550 Model 3s and 19,550 Model S/X units. Tesla’s total deliveries of 367,500 vehicles for 2019 are 50 percent up compared to the previous year (245,240 vehicles).
Related: Tesla Valued More Than Twice As Much As Ford And 44 Percent More Than GM
The announcement sent Tesla’s share prices up by 5.5 percent to a new record high, at $454. Tesla’s shares have been enjoying a strong run during the past few months, mostly thanks to a surprise profit announcement in Q3 and the company’s good progress in China.
The company added that the Shanghai-based Gigafactory has already produced just under 1,000 customer-salable cars, with the first deliveries to kick off on January 7. The new factory has also demonstrated a production run-rate capability of more than 3,000 cars per week – excluding local battery pack production, which began in late December.
The final numbers for Tesla’s Q4 results are not out just yet, with the company adding that these could vary by up to 0.5 percent or more, but we should get them once the company releases more data on its quarterly financial performance.
Tesla is currently expanding its presence in China, aiming to double its service centers and charging infrastructure in the country as the Shanghai Gigafactory gears up for regular series production and the locally-made Model 3 having just received a price cut for Chinese customers.
