Teslas share price hit a new high after the company released its fourth quarter and full year 2019 delivery and production reports, which showed it had set the latest delivery record.
But more importantly, Tesla has also met the lower end of its full 2019 target, with an estimated 360000 to 400000 new vehicles delivered in full 2019. During the year, Tesla delivered about 367500 vehicles worldwide, 50% more than in 2018. Tesla sold more cars in 2019 than the previous two years combined.
Old car makers have used the so-called Tesla killer to attack musk, but so far there are no real competitors (is it like that Android manufacturers said their iPhone killer). Sales of GMs all electric Chevrolet bolt tumbled 47% in the U.S. in the fourth quarter of last year, down 9% for the year.
At Teslas recent earnings call, Mask said he believed that the upcoming crossover ModelY would sell more than ModelS, ModelX and Model3 combined, but did not give a specific timetable.
Shanghai factory deliveries should be the next catalyst for Teslas sales growth, Robert W. Baird analyst Ben KALLO wrote in a report. More importantly, the expansion of this factory seems to be faster than we expected.
In 2012, the year Tesla launched its model s sedan, the company delivered only 2650 cars. Seven years later, the number reached 367500, 138 times that of the time. Analysts on average expect deliveries to reach 463000 in 2020, up 28% year-on-year.
Among these impressive results, Teslas shares opened at $436.92 per share, then peaked at $454 per share, with a market value of more than $80 billion. Tesla ended up 2.96% at $443.01, with a market value of $79.85 billion.
Teslas share price experienced a sharp fall and rise in 2019. It fell to a two-year low after a loss in the second quarter, but has experienced an impressive recovery with the release of third quarter earnings. Since then, Teslas share price has been on the rise, rising 84.6% in the past three months and 43.3% in the past 12 months. By contrast, the S & P 500 has risen 11.9% in the past three months and 33.1% in the past year.
For now, everyones eyes will be on Teslas upcoming earnings report. With the company meeting its 2019 target and ending the year with a strong momentum, Tesla has tremendous momentum. If Tesla finally meets or even exceeds its fourth quarter earnings forecast, the rally is likely to be just beginning. (small)
Source: Wang Fengzhi, editor in charge of Netease Technology Report