Jan 3, 2020

Tesla reports record 112,000 deliveries in 2019's 4th quarter

Tesla headquarters in Silicon Valley. Photo: Smith Collection/Gado/Getty Images

Tesla announced Friday that it produced almost 105,000 cars in 2019's fourth quarter and delivered roughly 112,000 — both records for the Silicon Valley electric automaker.

Why it matters: The deliveries substantially beat Wall Street estimates and enabled the company to meet its "ambitious" year-end sales goals, per CNBC.

Meanwhile, the company also plans to start delivering Model 3 sedans built in China to customers there on Jan. 7, Reuters reports.

  • "The Shanghai plant is part of the Silicon Valley automaker’s plans to bolster its presence in the world’s biggest auto market and minimize the impact of the U.S.-China trade war," they report.

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Tesla declares 2019 a turning point

Elon Musk. Photo: Xinhua News Agency / Contributor/Getty Images

Tesla earned $105 million in net profit in the fourth quarter, ending the year on a positive note and declaring 2019 a turning point for the volatile electric car company.

Details: Record 2019 deliveries helped drive revenues up 19% over the prior quarter, but profit margins fell because Tesla sold more of the lower-priced Model 3. Shares jumped 7% in after-hours trading on Wednesday to $621.89.

Go deeperArrowJan 29, 2020

A stronger Tesla returns to the spotlight for Q4 earnings

Photo: Justin Sullivan/Getty Images

Tesla's Q4 earnings report will come Wednesday as the volatile Silicon Valley electric automaker's stock is near all-time highs with a recent run of positive news, including record 2019 deliveries and the recent launch of its Chinese factory.

Why it matters: Tesla is arguably the most important corporate actor in the movement of electric vehicles toward the mainstream, even as new manufacturers emerge and legacy automakers roll out new models.

Go deeperArrowJan 29, 2020

Tesla's soaring stock raises questions about its future growth

Data: FactSet; Chart: Axios Visuals

That sharp spike you see in Tesla's already-high stock price is what happened Wednesday when the electric automaker reported a $105 million fourth-quarter profit and offered a rosy take on what's ahead.

Why it matters: Tesla and CEO Elon Musk kick up lots of dust, but the bottom line is that the trajectory of the world's largest electric vehicle seller matters a lot for the tech's wider adoption — even as competitors ramp, up too.

Go deeperArrowJan 30, 2020