Tesla posts 9.4% decline in quarterly deliveries of its electric cars

Total deliveries for 2016 of 76,230 also fell short of 90,000 projection

People walk past a planned store of Tesla in Hanam, South Korea

People walk past a planned store of Tesla in Hanam, South Korea

 

Tesla Motors has said fourth-quarter deliveries fell 9.4 per cent due to short-term production hurdles from the transition to a new autopilot hardware.

Deliveries fell to about 22,200 vehicles in the fourth quarter from 24,500 vehicles in the preceding quarter. Total deliveries for 2016 of 76,230 also fell short of the company’s projection of 80,000 to 90,000.

Shares of the company, led by entrepreneur Elon Musk, were down nearly 2 per cent at $212.90 (€203.90) in extended trading on Tuesday.

Tesla said production challenges, which started at the end of October and lasted through early December, shifted vehicle production towards the end of the quarter, resulting in delayed deliveries.

“We tried to recover these deliveries and expedite others by the end of the quarter, time ran out before we could deliver all customer cars,” the electric carmaker said.

Nearly 2,750 vehicles missed being counted as deliveries in the quarter due to last-minute delays in transport or because of the inability of customer to physically take delivery.

In addition to the fourth-quarter deliveries, about 6,450 cars were in transit and these would be counted in the first quarter, the company said.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
GO BACK
Error Image
The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment.
Comment Sign In

Forgot password?
The Irish Times Logo
Thank you
You should receive instructions for resetting your password. When you have reset your password, you can Sign In.
The Irish Times Logo
Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.
Screen Name Selection

Hello

Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
Forgot Password
Please enter your email address so we can send you a link to reset your password.

Sign In

Your Comments
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication.