PALO ALTO, Calif.—SpaceX, it seems, is not the only one of Elon Musk’s ventures firing on all cylinders.
A strong fourth quarter has propelled Tesla Motors Inc. past its 50,000 vehicle delivery target for 2015. The company shipped 17,192 Model S vehicles, as well as 208 of its new Model X SUVs, in the final three months of the year.
Model S deliveries were up 48 per cent compared to the third-quarter and were 75 per cent higher than the same quarter a year ago.
Though Tesla delivered just over 200 of its new Model X, the company said it plans to ramp up production.
“Model X deliveries are in line with the very early stages of our Model X production ramp as we prioritize quality above all else,” the company said. “That ramp has been increasing exponentially, with the daily production rate in the last week of the year tracking to production of 238 Model X vehicles per week.”
Despite hitting the target, the electric vehicle maker only reached the bottom rung of its delivery estimate. Tesla had also revised down its target to more than 50,000 from more than 55,000 at the beginning of 2015.