Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Musk defies skeptics, meets Tesla delivery goal; shares hit record
Source: Reuters
BUSINESS NEWS JANUARY 3, 2020 / 8:25 AM / UPDATED 4 HOURS AGO
Musk defies skeptics, meets Tesla delivery goal; shares hit record
Munsif Vengattil, Tina Bellon
4 MIN READ
(Reuters) - Tesla Inc (TSLA.O) beat Wall Street estimates for annual vehicle deliveries and met the low-end of its own target, sending shares to a record high in a vindication for Chief Executive Elon Musk after a few turbulent years.
Boosted by demand for its mass-produced Model 3 sedans as overseas sales pick up, Tesla on Friday said it delivered 112,000 vehicles in the fourth quarter, including 92,550 Model 3s and 19,450 Model S/X SUVs, which was above expectations of 104,960 vehicles, according to IBES data from Refinitiv.
The Silicon Valley carmaker delivered approximately 367,500 vehicles during all of 2019, just meeting the low end of its target to deliver 360,000 to 400,000 vehicles in 2019.
Tesla shares were up as much as 5.5% at $454, touching a record high.
The stock has had a strong run in recent months after posting a rare profit in the latest quarter and news of China ramp up. With a market valuation of more than $80 billion, Tesla is far outstripping those of traditional carmakers General Motors Co (GM.N) and Ford Motor Co (F.N).
-snip-
Musk defies skeptics, meets Tesla delivery goal; shares hit record
Munsif Vengattil, Tina Bellon
4 MIN READ
(Reuters) - Tesla Inc (TSLA.O) beat Wall Street estimates for annual vehicle deliveries and met the low-end of its own target, sending shares to a record high in a vindication for Chief Executive Elon Musk after a few turbulent years.
Boosted by demand for its mass-produced Model 3 sedans as overseas sales pick up, Tesla on Friday said it delivered 112,000 vehicles in the fourth quarter, including 92,550 Model 3s and 19,450 Model S/X SUVs, which was above expectations of 104,960 vehicles, according to IBES data from Refinitiv.
The Silicon Valley carmaker delivered approximately 367,500 vehicles during all of 2019, just meeting the low end of its target to deliver 360,000 to 400,000 vehicles in 2019.
Tesla shares were up as much as 5.5% at $454, touching a record high.
The stock has had a strong run in recent months after posting a rare profit in the latest quarter and news of China ramp up. With a market valuation of more than $80 billion, Tesla is far outstripping those of traditional carmakers General Motors Co (GM.N) and Ford Motor Co (F.N).
-snip-
Read more: https://www.reuters.com/article/us-tesla-deliveries/musk-defies-skeptics-meets-tesla-delivery-goal-shares-hit-record-idUSKBN1Z21B5
