Tesla shares go into reverse on missed deliveries and price cuts

The problem is the 90,700 delivery figure Tesla reported was a global result. Mercedes sold 90,575 in the U.S. alone during the same period

Tesla cuts prices on all models, reveals production numbers - Autoblog

That still doesn't quite make up for the $7500 incentive's loss (combined with the new $3750 tax credit, customers now save around $5750), but it's certainly better than nothing.

Q4 deliveries grew to 90,700 vehicles, which was 8% more than our prior all time-high in Q3.

Tesla buyers no longer qualify for the full $7500 federal tax credit as of January 1. Tesla also produced a total of 25,161 Model S and X, which is consistent with its long-term run rate of around 100,000 units per year. Come 2020, the tax credit disappears entirely (although no one will care since two-thirds of the world's wild animals are on track to disappear by 2020, too).

We started the year with a delivery run rate of about 120,000 vehicles per year and ended it at more than 350,000 vehicles per year - an increase of nearly 3X.

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Musk now plans to turn attention to filling Model 3 orders in Europe and China starting in February, which could help offset some of the potential drop in USA demand linked to the shrinking tax credit.

It built 86,555 vehicles in the fourth quarter, including 61,394 of its flagship Model 3 sedans.

Compounding investor anxiety was the company's announcement that it would slash prices on all Tesla models by $2,000, with the price cut meant to offset a reduced federal tax credit that took effect on Tuesday.

In its previous results statement, the company promised to focus on increasing its production rate.

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"The price cut is what's driving the stock lower, as it openly acknowledges the sunset of subsidy dollars is a material headwind", he said.

While fourth quarter Model 3 deliveries of 63,150 topped the 56,065 Tesla made in the third quarter, it fell just short of the 63,700 analysts expected, Bloomberg reported.

Even so, analysts had expected more of the electric carmaker, anticipating that it would complete 92,700 deliveries across its Model 3, Model S sedan, and Model X SUV. But customers in those markets still have several weeks to wait, with the company now saying those deliveries will start 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.

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