Production also ramped up during the fourth quarter, enabling the company to complete 86,500 vehicles, up 8 percent from the previous quarter. The company wouldn't say how many vehicles it had in inventory at the end of the year, but it reported enough to supply 20 days of sales at the end of September.
In Q4, we produced and delivered at the rate of almost 1,000 vehicles per day, setting new company records for both production and deliveries.
Musk has strived to stabilize the production of the troubled Model 3, in order to secure an easier cash influx and long-term financial stability for the company.
Tesla fell just short of its target to deliver 100 000 of its more expensive Model S and Model X vehicles for the year, selling 99 394 units.
61,394 Model 3 vehicles, in line with our guidance and 15% more than Q3.
Elon Musk's auto company delivered a total of 90,700 vehicles in the fourth quarter, up from 29,870 a year earlier. The vehicle has been delivered only to North American customers and in its mid to higher priced configurations. Seemingly as a way to highlight the demand for the vehicle, the company pointed out that more than 75% of Model 3 orders in Q4 came from new customers, not reservation holders.
Tesla said it delivered 90,700 vehicles in the three months to December.
Mexican Border Wall Would Not Be Solid Concrete
The bills the Democrats will propose are expected to pass the House easily, given that Democrats will have a majority of 40 seats. Meanwhile, then there are discrepancies over that word 'wall.' The president recently tweeted a picture of steel slats .
Tesla said it made the move to soften the impact of falling federal tax credits.
Tesla has urged buyers to make use of the federal tax credit, with Mr Musk reminding them on Twitter on Saturday that the benefit would drop to half at the beginning of 2019.
Tesla shares tumbled more than 8 per cent at the opening bell, to $304.69. Craig Irwin, an analyst with Roth Capital Partners, noted that Tesla's price adjustments on its vehicles are not helping TSLA stock either.
Longer-term we think the price cut is more concerning. Expansion of Model 3 sales to other markets, including with a right-hand drive variant, will occur later in 2019.
It's not clear how the delivery figures will affect Tesla's fourth-quarter and full-year 2018 earnings, which likely will be announced in February.
"There remain significant opportunities to continue to grow Model 3 sales by expanding to worldwide markets, introducing lower-priced variants and offering leasing", Tesla said in a press release.