Consumer Discretionary Tesla Motors Inc (TSLA): Tesla Motors Hits 100,000 Delivery Mark in US

Tesla Motors Inc (TSLA): Tesla Motors Hits 100,000 Delivery Mark in US

Published By News Desk at January 10, 2017 12:21 pm The automotive maker is now left with another 100,000 vehicles to deliver, before the tax credit program starts to phase off

Missing the delivery targets has been associated with Tesla Motors Inc (NASDAQ:TSLA). Even in the latest quarter, the automotive maker overshot its targets by delivering 76,230 cars in the year, below the estimate of 80,000 vehicles. However, these numbers were enough, taking its US tally to more than 100,000 vehicles.

According to an Electrek’s report, the company achieved the feat in the last quarter of 2016, a time when the European registrations were down. These 100,000 vehicles TSLA has delivered in the entire US do not include the Roadster’s deliveries which the company discontinued in 2012.

Since 2012, Tesla Motors has produced about 183,000 units Model S and X. The distribution graph is going up on a quarter-to-quarter basis, as TSLA continues to increase its production efforts and achieve the target of delivering 500,000 cars annually from 2018. The third quarter of 2016 was the most favorable for Tesla, as it delivered 24,500 vehicles, most in any quarter.

While the delivery of 100,000 vehicles in the US is a significant landmark for the automotive maker, this news may not create much hype for a lot of Model 3 owners. With Tesla already delivering 100,000 cars, it has hit the halfway mark of attaining the federal tax credit program for owners. The company would achieve the next 100,000 mark when the production for Model 3 starts.

Model 3 owners might not get the tax credit they hoped for long, to take advantage of the tax credit. However, the tax credit won’t be phased off. The tax credit will be reduced to 50% for six months, once the cap is reached. It will then be reduced by another 50% before it is revoked.