Tesla (NASDAQ: TSLA) is reporting this morning that it has produced 494,989 vehicles while delivering 484,507 in the fourth quarter. Reuters analysts had estimated deliveries of 473,253 units.
Broken down, the electric vehicle maker reported that it managed to deliver 461,538 units of Model 3’s and Y’s. The model S and X meanwhile were notably relegated to the “other models” category for the first time, which were presumably combined with Cybertruck figures, which combined for 22,969 vehicle deliveries.
For the full fiscal year, the automaker produced 1,845,985 vehicles, while delivering 1,808,581 vehicles. Model 3/Y accounted for 1,739,707 of those deliveries.
READ: Tesla Accidentally Revealed High Failure Rate In Defending Itself From Reuters
Notably, the company is facing challenges as it heads into the new year, with the Model 3’s rear-wheel drive and long range variants no longer qualifying for federal tax credits of $7,500 due to battery material sourcing requirements not being met.
$TSLA sold 49k more cars Q4 vs Q3 (484k vs. 435k)
— Stanphyl Capital (@StanphylCap) January 2, 2024
If on the first 435k in Q4 it made $1500/car less vs Q3 (the price cuts seem to be at LEAST that) it's a negative margin swing of $652M, offset by, say, $5k/car net on the extra 49k= $245M.$TSLA Q4 profit may be lower than Q3.
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