Tesla reported 112,000 global vehicle deliveries during the fourth quarter, while also producing 104,000 new vehicles—both company records. The carmaker delivered 367,500 vehicles in 2019, a 50pc increase over 2018.
Tesla’s China factory increased production to 1,000 vehicles per week, with deliveries commencing earlier this month, the company reported. It set a new record and hasn’t been hampered by the coronavirus.
The company reported $386mn in $7.38bn in revenues in Q4-2019, a 17pc increase over the previous quarter’s $6.3bn and 1pc higher than Q4-2018’s $7.2bn.
The company earned an 18.8pc gross margin during Q4-2019, with $2.14 posted earnings per share. During the the previous quarter, the company had an adjusted profit of $1.91 per share and $1.93 a share a year earlier. Tesla shares have risen by 39pc since the beginning of 2020.
Tesla’s stock rose after its Q3-2019 results, which were released in October and reported a return to profitability after its stock fell nearly 120pc.