Tesla falls short of its projected vehicle deliveries for 2016

Tesla falls short of its projected vehicle deliveries for 2016

Meanwhile in its fourth quarter Tesla delivered 22,200 vehicles, nearly 12,700 of which were Model S and 9,500 were Model X. The delivery number is less than the 24,500 vehicles Tesla delivered in the quarter before. The Palo Alto, Calif., company sold 22,200 vehicles during the October-through-December period, compared with 17,478 a year earlier, Tesla said Tuesday. In total, about 2,750 vehicles missed being counted as deliveries in Q4 either due to last-minute delays in transport or because the customer was unable to physically take delivery.

After closing 2016 with its first yearly decline, Tesla Motors Inc (NASDAQ:TSLA) shares opened the New Year on a positive note.

While Tesla still managed to produce the planned number of cars, it wasn't able to do so in time to meet delivery demands.

The stock price demonstrated downbeat change from its 50 day moving average of 197.29 and had been up from its 200 Day Moving Average of 206.90. As of this year, Tesla also plans to offer 400 Kwh, equivalent of about 100 miles, of free charging to all new customers, per year. However, the electric auto company fell short of its target, as it was only able to deliver 76,230 units for the year.

Tesla Motors Inc (NASDAQ:TSLA) traded 5,879,772 shares on last trading session with closing price of $216.99. The Company delivers energy storage products under the Tesla Energy brand. The company was targeting 80,000 - 90,000 deliveries.

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TSLA is ahead its 52-week low with 53.84%and going down from its 52-week high price with -19.44%.

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The only target that Musk has officially revealed is the annual production rate of 500,000 vehicles in 2018 and that's Model X, Model S and Model 3 combined, writes Electrek. In case anyone hadn't noticed, the stock market in general, had a fantastic up year, with the Dow up 13.4%.

The delivery figure, however, is almost 3,000 less than the 25,000 units projected for the period, with the posted growth not enough to break through the company's goal of delivering 80,000 units for 2016.