Tesla sold 367,500 Cars in 2019

Tesla sold 367,500 Cars in 2019

Tesla Inc (NASDAQ: TSLA)formerly Tesla Motors, Inc founded in July 2003 by engineers Martin Eberhard and Marc Tarpenning according to Wikipedia¹ tribute its name to the Inventor Nikola Tesla and the company is known for the production of mainly electric vehicles, battery energy storage for homes to grid scales with locations around the globe.

With the rise in global demand for alternative means of transportation, electric vehicles are at the forefront of innovation, which is receiving support from many countries due to its zero Co2 emissions.

Data from its website shows an annual report that in 2019 Tesla sold 367,500² cars, 50% compared to the previous year according to an article³ on CNN.com with 92,550 Model 3 cars and 19,450 Model S and X vehicles in the fourth quarter of 2019 with a survey from analyst by FactSet, the company expected to produce about 87,900 Model 3, 9,800 Model S and 9,300 Model X vehicles.

With 367,500 produced in 2019, the company is close to achieving its target annual production of 400,000 cars per week as this was decoded from a tweet by the CEO Elon Musk on the 20 Feb 2019.

The strong confidence the company displayed with meeting its annual target of about 400,000 cars per year was also a good sign for investors and would-be shareholders as this influenced the price of its shares Tesla Inc (NASDAQ: TSLA)to about$700as at 03.05.2020.

Tesla Stock Price May 2020

This all-time high of the share prices was a new record for the US Car maker after taking a plunge of about 21,5%⁵ at the beginning of March 2020 due to sell-offs related to the spread of the novel coronavirus at the first quarter of the year.

As in April 2020 and the slow resumption of normal activities and lockdowns been lifted in many countries around the world, Tesla recorded good numbers in the 1Q⁶ of 2020 with a total of 102,672 vehicles produced and 88,400 delivered of the (Model S/X and Model 3/Y).

Let’s see as more countries battle with the economic-related hits from the novel Coronavirus and see if Tesla would achieve the target of 400,000 vehicles in 2020

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References:

  1. https://en.wikipedia.org/wiki/Tesla,_Inc.
  2. https://ir.tesla.com/news-releases/news-release-details/tesla-q4-2019-vehicle-production-deliveries
  3. https://edition.cnn.com/2020/01/03/tech/tesla-sales/index.html
  4. https://www.investing.com/equities/tesla-motors
  5. https://www.fool.com/investing/2020/05/03/why-tesla-stock-skyrocketed-492-in-april.aspx
  6. https://ir.tesla.com/news-releases/news-release-details/tesla-q1-2020-vehicle-production-deliveries

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