

Investor's Corner
Tesla crushes Q4 results with 110k cars delivered, exceeds 2019 guidance with 365k total deliveries
Tesla (NASDAQ:TSLA) has formally released its production and delivery for the fourth quarter of 2019. Between October to December, Tesla produced a total of almost 105,000 vehicles. The company also delivered approximately 112,000 electric cars in both the United States and other territories. Tesla was able to deliver a total of 367,500 vehicles in 2019, 50% more than the previous year and in line with the company’s full-year guidance.
In an announcement on its Investor Relations website, Tesla stated that it had produced a total of 17,933 Model S and Model X during fourth quarter of 2019, while Model 3 production was at 86,958 units. A total of 19,450 Model S and X and 92,550 Model 3 were delivered in the fourth quarter as well.
Tesla met a number of milestones in the fourth quarter. Its gigantic factory in Shanghai, Gigafactory 3, came alive in Q4 and started mass producing the Made-in-China Model 3 even before the company received its final sales license. According to Tesla’s recent report, Gigafactory 3 has already reached a run-rate of 3,000 vehicles per week, and local battery pack production has started in December 2019 as well.
That being said, the company’s accomplishments in the fourth quarter were the result of hard work. Up to the end of the year, Tesla was pushing deliveries to new customers, in the United States and beyond. In Fremont, CA, Elon Musk took some time out of his New Year’s Eve to help out with customer deliveries. Thousands of owner-enthusiasts also volunteered their time to help new owners get more familiar with their vehicles.
Tesla’s Q4 and Full-Year production and delivery report appears to have impressed the company’s investors, at one point trading as high as $453 per share after the opening bell on Friday.
Tesla’s full production and delivery report could be read below.
PALO ALTO, Calif., Jan. 03, 2020 (GLOBE NEWSWIRE) — In the fourth quarter, we achieved record production of almost 105,000 vehicles and record deliveries of approximately 112,000 vehicles. In 2019, we delivered approximately 367,500 vehicles, 50% more than the previous year and in line with our full year guidance.
Production | Deliveries | Subject to lease accounting | ||
Model S/X | 17,933 | 19,450 | 14 | % |
Model 3 | 86,958 | 92,550 | 7 | % |
Total | 104,891 | 112,000 | 8 | % |
We continue to focus on expanding production in both the US as well as our newly launched facility in Shanghai. Despite breaking ground at Gigafactory Shanghai less than 12 months ago, we have already produced just under 1,000 customer salable cars and have begun deliveries. We have also demonstrated production run-rate capability of greater than 3,000 units per week, excluding local battery pack production which began in late December.
Lastly, we want to thank our customers, employees, suppliers, shareholders and supporters who made another record-breaking year possible.
Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q4 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.
Investor's Corner
Stifel raises Tesla price target by 9.8% over FSD, Robotaxi advancements
Stifel also maintained a “Buy” rating for the electric vehicle maker.

Investment firm Stifel has raised its price target for Tesla (NASDAQ:TSLA) shares to $483 from $440 over increased confidence in the company’s self-driving and Robotaxi programs. The new price target suggests an 11.5% upside from Tesla’s closing price on Tuesday.
Stifel also maintained a “Buy” rating despite acknowledging that Tesla’s timeline for fully unsupervised driving may be ambitious.
Building confidence
In a note to clients, Stifel stated that it believes “Tesla is making progress with modest advancements in its Robotaxi network and FSD,” as noted in a report from Investing.com. The firm expects unsupervised FSD to become available for personal use in the U.S. by the end of 2025, with a wider ride-hailing rollout potentially covering half of the U.S. population by year-end.
Stifel also noted that Tesla’s Robotaxi fleet could expand from “tiny to gigantic” within a short time frame, possibly making a material financial impact to the company by late 2026. The firm views Tesla’s vision-based approach to autonomy as central to this long-term growth, suggesting that continued advancements could unlock new revenue streams across both consumer and mobility sectors.
Tesla’s FSD goals still ambitious
While Stifel’s tone remains optimistic, the firm’s analysts acknowledged that Tesla’s aggressive autonomy timeline may face execution challenges. The note described the 2025 unsupervised FSD target as “a stretch,” though still achievable in the medium term.
“We believe Tesla is making progress with modest advancements in its Robotaxi network and FSD. The company has high expectations for its camera-based approach including; 1) Unsupervised FSD to be available for personal use in the United States by year-end 2025, which appears to be a stretch but seems more likely in the medium term; 2) that it will ‘probably have ride hailing in probably half of the populations of the U.S. by the end of the year’,” the firm noted.
Investor's Corner
Cantor Fitzgerald reaffirms bullish view on Tesla after record Q3 deliveries
The firm reiterated its Overweight rating and $355 price target.

Cantor Fitzgerald is maintaining its bullish outlook on Tesla (NASDAQ:TSLA) following the company’s record-breaking third quarter of 2025.
The firm reiterated its Overweight rating and $355 price target, citing strong delivery results driven by a rush of consumer purchases ahead of the end of the federal tax credit on September 30.
On Tesla’s vehicle deliveries in Q3 2025
During the third quarter of 2025, Tesla delivered a total of 497,099 vehicles, significantly beating analyst expectations of 443,079 vehicles. As per Cantor Fitzgerald, this was likely affected by customers rushing at the end of Q3 to purchase an EV due to the end of the federal tax credit, as noted in an Investing.com report.
“On 10/2, TSLA pre-announced that it delivered 497,099 vehicles in 3Q25 (its highest quarterly delivery in company history), significantly above Company consensus of 443,079, and above 384,122 in 2Q25. This was due primarily to a ‘push forward effect’ from consumers who rushed to purchase or lease EVs ahead of the $7,500 EV tax credit expiring on 9/30,” the firm wrote in its note.
A bright spot in Tesla Energy
Cantor Fitzgerald also highlighted that while Tesla’s full-year production and deliveries would likely fall short of 2024’s 1.8 million total, Tesla’s energy storage business remains a bright spot in the company’s results.
“Tesla also announced that it had deployed 12.5 GWh of energy storage products in 3Q25, its highest in company history vs. our estimate/Visible Alpha consensus of 11.5/10.9 GWh (and vs. ~6.9 GWh in 3Q24). Tesla’s Energy Storage has now deployed more products YTD than all of last year, which is encouraging. We expect Energy Storage revenue to surpass $12B this year, and to account for ~15% of total revenue,” the firm stated.
Tesla’s strong Q3 results have helped lift its market capitalization to $1.47 trillion as of writing. The company also teased a new product reveal on X set for October 7, which the firm stated could serve as another near-term catalyst.
Investor's Corner
Tesla just got a weird price target boost from a notable bear

Tesla stock (NASDAQ: TSLA) just got a weird price target boost from a notable bear just a day after it announced its strongest quarter in terms of vehicle deliveries and energy deployments.
JPMorgan raised its price target on Tesla shares from $115 to $150. It maintained its ‘Underweight’ rating on the stock.
Despite Tesla reporting 497,099 deliveries, about 12 percent above the 443,000 anticipated from the consensus, JPMorgan is still skeptical that the company can keep up its momentum, stating most of its Q3 strength came from leaning on the removal of the $7,500 EV tax credit, which expired on September 30.
Tesla hits record vehicle deliveries and energy deployments in Q3 2025
The firm said Tesla benefited from a “temporary stronger-than-expected industry-wide pull-forward” as the tax credit expired. It is no secret that consumers flocked to the company this past quarter to take advantage of the credit.
The bump will need to be solidified as the start of a continuing trend of strong vehicle deliveries, the firm said in a note to investors. Analysts said that one quarter of strength was “too soon to declare Tesla as having sustainably returned to growth in its core business.”
JPMorgan does not anticipate Tesla having strong showings with vehicle deliveries after Q4.
There are two distinct things that stick out with this note: the first is the lack of recognition of other parts of Tesla’s business, and the confusion that surrounds future quarters.
JPMorgan did not identify Tesla’s strength in autonomy, energy storage, or robotics, with autonomy and robotics being the main focuses of the company’s future. Tesla’s Full Self-Driving and Robotaxi efforts are incredibly relevant and drive more impact moving forward than vehicle deliveries.
Additionally, the confusion surrounding future delivery numbers in quarters past Q3 is evident.
Will Tesla thrive without the EV tax credit? Five reasons why they might
Tesla will receive some assistance from deliveries of vehicles that will reach customers in Q4, but will still qualify for the credit under the IRS’s revised rules. It will also likely introduce an affordable model this quarter, which should have a drastic impact on deliveries depending on pricing.
Tesla shares are trading at $422.40 at 2:35 p.m. on the East Coast.
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