Tesla publishes 9.4 percent drop in quarterly deliveries

Tesla Model X

Tesla Motors stated on Tuesday fourth-quarter deliveries dropped 9.4 percent because of short-term production difficulties from the shift to a new auto-pilot hardware.

Deliveries dropped to about 22,200 automobiles in the 4th quarter from 24,500 automobiles in the preceding quarter.

Overall deliveries for last year of 76,230 likewise disappointed the automaker’s forecast of 80,000 to 90,000.

Shares of the business, led by owner Elon Musk, were down almost 2 percent at $212.90 in prolonged trading.

Tesla stated production difficulties, which began at the end of October and lasted through starting December, moved auto production towards completion of the quarter, leading to postponed deliveries.

“We attempted to recover these deliveries and accelerate others by the end of the quarter, time went out before we could provide all client cars,” the electric automaker stated.

Almost 2,750 automobiles missed out on being counted as deliveries in the quarter because of last-minute hold-ups in transportation or due to the failure of client to physically obtain delivery.

Along with the fourth-quarter deliveries, about 6,450 cars remained in transit and these would be counted in the very first quarter, the automaker stated.

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