Tesla says it delivered about 63,000 vehicles in the first quarter of 2019, a 31% drop from Q4 2018 (TSLA)

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  • Tesla produced
    77,100 vehicles in the first quarter of 2019, the company said
    on
    Wednesday.
  • Analysts polled by Bloomberg were
    expecting
    total production to be 64,400 vehicles.
  • Tesla’s stock price sank $0.39, or slightly more than
    0.1%, in after-hours trading following the
    announcement.

Tesla on
Wednesday released total vehicle-production and delivery numbers
for the first quarter of 2019, which ended on Sunday.

Here are the important figures:

  • Total production: 77,100
  • Total deliveries: 63,000
  • Model 3 deliveries: 50,900
  • Model S and Model X deliveries: 12,100.

Wall Street analysts’ average estimate for total production was
64,400 cars,
according to Bloomberg
.

Tesla had previously warned in its fourth-quarter update to
investors that first-quarter numbers for Model S and Model X would
likely come in “slightly
below
” the prior year’s figures for the same period. In the
first quarter of 2018, the company produced 24,728 Model S and
Model X vehicles.

Tesla cited challenges it encountered with deliveries
overseas.

“We had only delivered half of the entire quarter’s numbers by
March 21, ten days before end of quarter,” Tesla said in a press
release Wednesday night. “This caused a large number of vehicle
deliveries to shift to the second quarter.”

Like many other previous quarters, this deadline was also met
with an all-hands-on-deck rush to meet internal targets by Tesla.
highlighted how important this quarterly deadline was for the
company.

Read more:
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autonomy

Shares of the company fell $0.39, or slightly more than 0.1%, in
after-hours trading following the production report, according
to Markets Insider data
.

Tesla is expected to report its first-quarter financials soon,
but it has not yet confirmed a release date. Musk said in February
that the
company would likely dip back into the red for this quarter —

a
departure from his previous statements about the company’s
continued profitability —
as it expanded into Europe and
China.

The company did not provide an update on how many $35,000 Model
3 orders it received. The company
began taking orders for the long-awaited base model in
February
.

More Tesla news:

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Tesla says it delivered about 63,000 vehicles in the first quarter of 2019, a 31% drop from Q4 2018 (TSLA)