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Feb 19, 2019

Tesla to make about 500,000 cars this year, Musk says in tweet

Tesla

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Tesla Inc. (TSLA.O) plans to make about 500,000 cars this year, Chief Executive Officer Elon Musk said in a Twitter posting.

The comments are in line with Tesla’s previous guidance. After total deliveries more than tripled last year, Tesla is projecting an increase of as much as 65 per cent in 2019, the company said Jan. 31.

The electric-vehicle maker kicked off this year on a dull note after fourth-quarter deliveries slightly lagged expectations, and multiple price cuts have followed for the Model 3 sedan to compensate for the gradual elimination of federal tax incentives in the U.S. Tesla’s quarterly profit, reported in late January, also missed estimates and failed to inspire investor confidence.