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2016 Production 83,922 vehicles, 24,882 in Q4, up 64% from 2015

2016 Production 83,922 vehicles, 24,882 in Q4, up 64% from 2015

PALO ALTO, CA -- (Marketwired) -- 01/03/17 -- Tesla (NASDAQ: TSLA) produced 24,882 vehicles in Q4, resulting in total 2016 production of 83,922 vehicles. This was an increase of 64% from 2015.
Tesla delivered approximately 22,200 vehicles in Q4, of which 12,700 were Model S and 9,500 were Model X. When added to the rest of the year, total 2016 deliveries were approximately 76,230.Our Q4 delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct.

Because of short-term production challenges starting at the end of October and lasting through early December from the transition to new Autopilot hardware, Q4 vehicle production was weighted more heavily towards the end of the quarter than we had originally planned. We were ultimately able to recover and hit our production goal, but the delay in production resulted in challenges that impacted quarterly deliveries, including, among other things, cars missing shipping cutoffs for Europe and Asia. Although we tried to recover these deliveries and expedite others by the end of the quarter, time ran out before we could deliver all customer cars. In total, about 2,750 vehicles missed being counted as deliveries in Q4 either due to last-minute delays in transport or because the customer was unable to physically take delivery. Even where these customers had already fully paid for their vehicle, we still did not count these as deliveries in Q4.
In addition to Q4 deliveries, about 6,450 vehicles were in transit to customers at the end of the quarter. These will be counted as deliveries in Q1 2017.

Vehicle demand in Q4 was particularly strong. Q4 net orders for Model S and X, which were an all-time record for us, were 52% higher than Q4 2015 and 24% higher than our previous record quarter in Q3 2016.

Tesla vehicle deliveries represent only one measure of the company's financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.

Source: Tesla Motors, Inc.

SO | 3 januar 2017

I find it amazing how Wall Street reacts negatively to Tesla sales but yet somehow is fine with other car companies just selling to dealers while cars sit on the lot.

"Shares of Tesla fell as much as 4 percent in extended trade Tuesday after the company missed its own guidance for vehicle deliveries in 2016. The electric automaker delivered 76,230 vehicles, falling just shy of its 80,000 goal. The electric carmaker said in a press release issued Tuesday that the numbers "should be viewed as conservative" because Tesla only counts a car as delivered if it is transferred to the customer and all of the paperwork is correct."

KP in NPT | 3 januar 2017

+1 @SO_90D

Mike83 | 3 januar 2017

Thanks for the post. Excellent news. I don't read other peoples opinions especially the short stock crowd.
I would be happy to buy more shares especially if it dips.

georgehawley.fl.us | 3 januar 2017

76,000 delivered isn't too shabby. Tesla started the year in disarray with the MX production blowing out a lot of smoke and oil. Then they started shipping Xes with defects and let the SCs try to get the cars up to snuff. Very poor QA.

By all accounts they are doing much better now.

jordanrichard | 4 januar 2017

"but yet somehow is fine with other car companies just selling to dealers while cars sit on the lot.", because that is all that matters. How many cars did GM, Honda, etc, sell to the dealers. Those are the real customers for the car companies. Wall Street could care less if all of those cars just sat there and rusted away, or got wiped out in a flood. Those are sold goods and are the dealer's problem, not the car companies..

lilbean | 4 januar 2017

Yep.

TeslaTap.com | 4 januar 2017

@jordanrichard - Except when those crap-mobiles don't sell, the manufacturer starts providing rebates and more advertising to move the stuff off the lots. They often provides loans to the dealers as well, so until the car is sold to a consumer, the financial risk is really on the manufacturer. A lot of clever accounting ignores the realities of the sale.

carlk | 4 januar 2017

The Model X number is very encouraging especially considering the fact that base X costs significantly more than base S.

Ross1 | 4 januar 2017

Congratulations to all Tesla staff.

PartyOf5 | 4 januar 2017

"In total, about 2,750 vehicles missed being counted as deliveries in Q4 either due to last-minute delays in transport or because the customer was unable to physically take delivery."

I'm one of them. Since when does it take 24-48 hours to approve a lease application?

Was told my X didn't ship from Dedham because of snow by rep but delivery says they only got my lease info today when it was actually all taken care of days ago.

They really need to get their act together if they are even going to deliver a fraction of the 3 pre-orders.

KP in NPT | 4 januar 2017

Sorry to hear about that , @Partyof5 - the Dedham staff is usually great (that's my SC) - hopefully there is a logical explanation.

PartyOf5 | 4 januar 2017

Thanks KP in NPT. I'm having it shipped to Manhasset but at this point I could have just driven up and picked it up from Dedham myself and saved the transportation fee. Tesla said I'd have it 12/31, looking more like 1/13 at this point.

KP in NPT | 4 januar 2017

Wow! Why couldn't you do delivery at the store there?

PartyOf5 | 5 januar 2017

I live on Long island so this would be easier but given how long it is taking to ship it down we would have opted to drive up and grab it. They made it sound like it would leave Dedham within 24 hours of my deposit being put down and maybe even that day.

KP in NPT | 5 januar 2017

Oh I see. So it's an inventory/CPO car? I was thinking it was coming from Fremont.

I hope you get it soon. I don't know how you've stopped yourself from going to get it. lol

PartyOf5 | 5 januar 2017

We went with inventory because they said we would have it right away versus waiting till end of March.

My wife slid off the road in an ice storm 3 years ago and still isn't over it, I want her to have something she is more comfortable in for Jan/Feb driving. Plus child #3 is due in early May and didn't want a scenario where car was later than planned/baby earlier.