Tesla unveils record deliveries in Q4

Subsidies and international sales pushed Tesla deliveries to a record 112,000 vehicles in the final quarter of 2019

Tesla delivered a record 112,000 cars in the final three months of 2019. Buyers rushing to take advantage of subsidies and international sales helped the electric-car maker beat market expectations.

California-based Tesla said it delivered 367,500 vehicles during 2019, or 50 per cent more than in 2018, topping the low end of its forecast of at least 360,000.

The electric-vehicle maker delivered 92,550 Model 3 and 19,450 Model S and Model X electric vehicles in the fourth quarter, eclipsing its previous total best of 97,000 in the previous three months.

Analysts had expected Tesla to deliver 106,000 vehicles to customers during the fourth quarter.

The phasing out of subsidies for electric cars in the US helped bolster sales in the domestic market. Customers who received their cars in 2019 qualified for a $1,875 (€1,681, £1,431) tax credit. However, they would not qualify if the car was ordered in 2019 and delivered in 2020.

The surge of Model 3 vehicles registered in the Netherlands in December also helped lift deliveries as Dutch car buyers rushed to take advantage of subsidies that expired at the end of 2019.

Tesla said separately that it has cut the starting price of its China-built Model 3 car by 9 per cent in an effort to lure customers in the world’s biggest electric-vehicle market after it opened a factory in Shanghai.

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The price was lowered to 323,800 yuan ($46,500, €41,698, £35,502) from 355,800 yuan. After subsidies from the Chinese government, prices now start at 299,050 yuan, according to Tesla’s Chinese website.

Tesla will start delivering local models to Chinese customers on January 7.

Chief Executive Elon Musk has said the company is targeting weekly production of 3,000 cars in Shanghai.

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