Tesla shares slid 6.9 percent - the most since August - on Monday, one day after the company said it delivered 17,400 vehicles in the quarter and 50,580 for the year. With hundreds of statements about the Model X and all things Tesla and EV by Elon Musk to choose from it is hard to really remember what was promised regarding the new Model X. The forecast we most recently heard from Elon Musk was reported in November, following the already very slow launch. Tesla's plan for the final quarter of the year was to build 15,000 to 17,000 vehicles and deliver 17,000 to 19,000 cars, which would result in 50,000 to 52,000 total units for 2015. Tesla shipped 208 Model Xs in the quarter and produced 507. Model S deliveries represented a 48% increase from the third quarter levels and a 75% increase from the previous year same quarter levels.
The company said it also delivered 208 Model X vehicles. Based on the daily production rate in the last week of the year, weekly output would be about 238 SUVs, Tesla said. Those projections underscored a downward revision of the initial March estimates that the company will deliver 55,000 electric vehicles in 2015. Ben Kallo, an analyst at Robert W. Baird & Co., had estimated Tesla would deliver about 1,000 Model Xs in the fourth quarter. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and expanding profit margins.
Shares of Tesla declined the most in more than two months today.
First released in 2012, the Model S is a full-sized, plug-in electric, five-door vehicle that boasted the longest range of any electric vehicle released at the time.
You might even say it's "good", especially considering the notion that quirky automotive upstarts such as Fisker, TVR, Stutz, Tucker, Gumpert, TVR once more, and Carbon Motors never came within screaming distance of 50,000 cars before collapsing unceremoniously. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Straubel Jeffrey B, officer (Chief Technical Officer) of Tesla Motors Inc, unloaded 5,000 shares at an average price of $220.64 on December 15, 2015.
According to the WSJ, separately, Tesla is investigating a fire that destroyed a Model S in Norway. Tesla said it can now produce about 240 SUVs a week.
