- Tesla reported a profit for the fourth quarter and says it’s on track to produce 415,000 cars a year at its Fremont, California, factory.
- Model Y production is already underway ahead of schedule—and Tesla says it will produce “limited volumes” of the Tesla Semi in 2020, too.
- Year-over-year production of the Model 3 was up 42 percent, while Model X and Model S was down 29 percent.
Today Tesla announced its fourth quarter and yearly 2019 report, and the things are looking good for the California-based company. It delivered a profit of $105 million this quarter compared to $140 million during the same time the previous year. Model 3 production and deliveries are up, Tesla reported, as it spins up full production on the Shanghai, China, factory. Plus Model Y production is already underway, ahead of schedule, Tesla said.
The company announced that it delivered 112,095 vehicles in the fourth quarter and says it’s on track to produce 415,000 vehicles a year at its Fremont, California, plant. Most of those deliveries are of the Model 3. Production of the vehicle was up 42 percent over last year with Model S and X production down 29 percent compared to last year.
2019 Tesla Model 3
2019 Tesla Model S
2019 Tesla Model X
Looking just at the fourth quarter of 2019, Model 3 production was up 9 percent with Model S and X production up 10 percent compared with the third quarter. In the earnings report, Tesla said it should be able to deliver more than 500,000 Model 3 and Y vehicles for the full year of 2020. It clarified that “Due to [the ramp-up] of Model 3 in Shanghai and Model Y in Fremont, production will likely outpace deliveries this year.”
As a bonus, Tesla also announced that it has already begun production of its Model Y crossover and that the EPA range estimates for that vehicle have increased from 280 miles to 315 miles. Model Y deliveries should begin by the end of first quarter 2020—and Tesla even said, “We are planning to produce limited volumes of Tesla Semi this year.”
Source: Motor - aranddriver.com
