Tesla justifies sky-high valuation by beating Q4 delivery estimates

Tesla is trading close to its all-time high and is worth more than $77 billion dollars, more than most car companies and the 3rd most valuable car company behind VW and Toyota.

To justify that valuation their quarterly shipments had better hit the ball out of the park, and with their latest announcement, the company just did.

Tesla announced that in the last 3 months of 2019 they delivered a record 112,000 electric vehicles, beating their last high point of 97,000 cars in Q3 2019.

This is even more than they produced, having manufactured 104,891 vehicles in the quarter.

A breakdown of the models reads as below:

• Model S/X: 17,933 cars produced and 19,450 delivered
• Model 3: 86,958 cars produced and 92,550 delivered
• Total: 104,891 cars produced and 112,000 delivered

The cumulative total for 2019 neatly exceeds the lower end of their guidance of 360,000 cars in 2019, with a total of 367,500 cars sold in the last year.

See the full press release:

PALO ALTO, Calif., Jan. 03, 2020 (GLOBE NEWSWIRE) — In the fourth quarter, we achieved record production of almost 105,000 vehicles and record deliveries of approximately 112,000 vehicles. In 2019, we delivered approximately 367,500 vehicles, 50% more than the previous year and in line with our full year guidance.

Production Deliveries Subject to lease accounting
Model S/X 17,933 19,450 14 %
Model 3 86,958 92,550 7 %
Total 104,891 112,000 8 %
We continue to focus on expanding production in both the US as well as our newly launched facility in Shanghai. Despite breaking ground at Gigafactory Shanghai less than 12 months ago, we have already produced just under 1,000 customer salable cars and have begun deliveries. We have also demonstrated production run-rate capability of greater than 3,000 units per week, excluding local battery pack production which began in late December.

Lastly, we want to thank our customers, employees, suppliers, shareholders and supporters who made another record-breaking year possible.

Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q4 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.

Via Electrek