Tesla sold 50% more than last year in 2019

Tesla announced on January 3 (local time) that it had sold 367,500 electric vehicles in 2019 alone. It is a 50% increase from the previous year, which led to the uptrend thanks to the sales of cheap Model 3 models.

More than a third of the total sales, or 112,000 units, were concentrated in the fourth quarter. Production was also 105,000 units, up 10% from the previous quarter. As a result, Tesla shares rose 3.8% from trading on the morning of the 3rd. In the fourth quarter, Tesla ended a year with a bad start. Tesla’s first-quarter shipments were only 63,000 units, down by nearly a third from the previous quarter. Due to poor shipments in the first quarter, vehicle costs and price adjustments were made, and a loss of $720 million was expected. However, after that, Tesla shipped 95,200 units in the second quarter and 97,000 units in the third quarter.

The more positive news is that Tesla is expanding its Model 3 production at its factories in China. Tesla began construction of its first factory outside the United States and began shipping the first general-purpose Model 3 produced at its Shanghai factory on January 7, a year later. Tesla says it has started shipping less than 1,000 vehicles in China. Tesla explained in its report that it has proven its capacity to produce more than 3,000 units a week, excluding local battery packs that started production at the end of December last year.