Tesla Motors Inc. delivered 17,400 vehicles in the fourth quarter, hitting its target of at least 50,000 vehicles for the year. Tesla said that its new electric sports utility vehicle, Model X, was in line with the company’s early stage of production. Tesla will be increasing Model X production exponentially moving forward, claiming the production of 238 Model X-es per week right at the close of 2015. By way of contrast, Tesla’s previous annual delivery record, set in 2014, checked in at 33,157 units.
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After a fourth-quarter rally, Tesla has reached its goal of delivering 50,000 vehicles in 2015.
Tesla is making efforts to ensure a problem-free reception for the Model X SUV because the company plans to launch its less expensive Model 3 sedan in 2017.
The tepid deliveries raised alarms on Wall Street about the production capacity of Tesla’s California plant, which only has one factory building for its two models. In addition, Model X deliveries were much more disappointing, totaling merely 208 of the total 17,400 units delivered.
For instance, it promised to begin Model X deliveries in the third quarter.
When looking at the daily charts for Tesla Motors, the stock has been trending higher ever since hitting an intra day low of $204.91. The company is already down from the optimistic prediction of 55,000 cars at the beginning of the 2015, with a Q3 loss non-generally accepted accounting principles of 75 million dollars.
The company said the final figures for delivery over the period could vary slightly as final paperwork relating to a sale is completed.
Tesla’s Model X crossover finally arrived this fall after being delayed from its initially-planned 2013 launch, but only a scarce few actually got the highly-anticipated vehicles in their driveways.
Safety questions about Tesla’s lithium ion batteries flared anew last week after a fire destroyed a Tesla being recharged in Norway.
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While global adoption of electric vehicles has been slow, Tesla has been the U.S. pioneer in luxury electric cars. Even with the production challenges the charismatic executive expects the auto to blow people away translating to favorable sales going forward.
