Tesla has produced a record number of vehicles in the last quarter of 2018, totaling nearly 90,000 models. Despite this, stock value continues to fall as much as 8%.
According to financial reports In Q4 of 2018, Tesla produced 61,394 Model 3s and 25,161 model S and X units, combining to 86,555 units overall. This is a new production record for the company.
It doesn't reach their goals, however. This even's out to about 4,700 Model 3s a week, just barely under the 5,000 a week goal the company set in May of 2017. The company has a history of setting slightly out of reach goals. In August of last year, they rose their production goal to 6,000 a week.
The reports also show a total of 90,700 cars were shipped in the same quarter. Seldom does a company ship more than they produce in a quarter. This may have been due to an increased focus on delivering as many cars as they can before 2019. The company is set to lose a key federal tax break at the end of the year, after all.
Previously, Tesla customers were eligible for a $7,500 tax break. Now that the expiration is taking effect, the value has been decreased to $3,750. it will fall to $1,875 in July, and to zero at the end of the year.
To help offset the loss of savings, Tesla is dropping process across all of their products by $2,000.
Tesla has been struggling on the stock market these last few months, falling by $76 dollars in the last month. The company has experienced harder dips and greater recoveries in the last year alone, though. So it's certainly no sign of the future.
Tesla Hits Production Record in Q4, Stocks Dip Anyway
Posted By: LizardRock | 0 Comment(s) Posted On: Jan 04, 2019 @ 04:21 PM