Tesla misses Wall Street estimates with 90,700 vehicle deliveries in fourth quarter, shares tumble

Tesla disappointed investors Wednesday, announcing that it delivered 90,700 vehicles during the fourth quarter — short of Wall Street forecasts despite its efforts to ramp up production.

Tesla had been able to use to lure buyers. That was cut in half to $3,750 starting Jan. 1.

Wedbush Securities analyst Dan Ives told CNBC the delivery numbers were consistent with his prediction, but the cut in prices is likely weighing on the stock.

“It was a move that was within the realm of possibility, but it caught investors off guard,” he said.

Bearish investors are likely interpreting the price cut as an attempt to stimulate demand, but Ives said it was more of a way to soften the blow from the tax credit drop.

The company delivered 8 percent more vehicles during the quarter, a new all-time high, but the numbers were fewer than expected by Wall Street. The company said it delivered 63,150 Model 3s, 13,500 Model S sedans and 14,050 Model X SUVs. Wall Street analysts had forecast 64,900 Model 3 deliveries, 14,200 for the Model S and 13,600 for the Model X, according to average estimates of nine analysts compiled by FactSet.

Tesla said it boosted production during the quarter, churning out 86,555 vehicles, up 8 percent from 80,142 during the third quarter.

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