Cars and Drivers

Tesla in Q4 Delivers 17,192 Model S Vehicles and 208 Model X Vehicles

Douglas A. McIntyre

Published: January 3, 2016 4:10 pm

Last Updated: January 13, 2020 3:30 pm

What has worried investors in Tesla Motor Corp. (NASDAQ: TSLA) all along is that its electric cars were not much more than toys for the rich. Limited market. And, with manufacturing costs and constraints, limited product.

Bad dreams came true as Tesla announced fourth-quarter delivery results:

(Marketwire) — 01/03/16 — Tesla (TSLA) (NASDAQ (NBI): TSLA) Q4 deliveries consisted of 17,192 Model S vehicles and 208 Model X vehicles. (507 Model X vehicles were produced during Q4 with the remainder to be delivered in early Q1.)

Q4 Model S deliveries were approximately 48% more than our prior quarterly record and approximately 75% more than Q4 last year. Model X deliveries are in line with the very early stages of our Model X production ramp as we prioritize quality above all else. That ramp has been increasing exponentially, with the daily production rate in the last week of the year tracking to production of 238 Model X vehicles per week.

There may be small changes to this delivery count (usually well under 1%), as Tesla only counts a delivery if it is transferred to the end customer and all paperwork is correct.

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

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At least Tesla founder and CEO Elon Musk has his rocket business, SpaceX, to fall back on.