• 22 hours Iraq Begins To Rebuild Largest Refinery
  • 1 day Canadian Producers Struggle To Find Transport Oil Cargo
  • 1 day Venezuela’s PDVSA Makes $539M Interest Payments On Bonds
  • 1 day China's CNPC Considers Taking Over South Pars Gas Field
  • 1 day BP To Invest $200 Million In Solar
  • 1 day Tesla Opens New Showroom In NYC
  • 1 day Petrobras CEO Hints At New Partner In Oil-Rich Campos Basin
  • 1 day Venezuela Sells Oil Refinery Stake To Cuba
  • 2 days Tesla Is “Headed For A Brick Wall”
  • 2 days Norwegian Pension Fund Set to Divest From Oil Sands and Coal Ventures
  • 2 days IEA: “2018 Might Not Be Quite So Happy For OPEC Producers”
  • 2 days Goldman Bullish On Oil Markets
  • 2 days OPEC Member Nigeria To Issue Africa’s First Sovereign Green Bond
  • 2 days Nigeria To Spend $1B Of Oil Money Fighting Boko Haram
  • 2 days Syria Aims To Begin Offshore Gas Exploration In 2019
  • 2 days Australian Watchdog Blocks BP Fuel Station Acquisition
  • 3 days Colombia Boosts Oil & Gas Investment
  • 3 days Environmentalists Rev Up Anti-Keystone XL Angst Amongst Landowners
  • 3 days Venezuelan Default Swap Bonds At 19.25 Cents On The Dollar
  • 3 days Aramco On The Hunt For IPO Global Coordinators
  • 3 days ADNOC Distribution Jumps 16% At Market Debut In UAE
  • 3 days India Feels the Pinch As Oil Prices Rise
  • 3 days Aramco Announces $40 Billion Investment Program
  • 3 days Top Insurer Axa To Exit Oil Sands
  • 4 days API Reports Huge Crude Draw
  • 4 days Venezuela “Can’t Even Write A Check For $21.5M Dollars.”
  • 4 days EIA Lowers 2018 Oil Demand Growth Estimates By 40,000 Bpd
  • 4 days Trump Set To Open Atlantic Coast To Oil, Gas Drilling
  • 4 days Norway’s Oil And Gas Investment To Drop For Fourth Consecutive Year
  • 4 days Saudis Plan To Hike Gasoline Prices By 80% In January
  • 4 days Exxon To Start Reporting On Climate Change Effect
  • 5 days US Geological Survey To Reevaluate Bakken Oil Reserves
  • 5 days Brazil Cuts Local Content Requirements to Attract Oil Investors
  • 5 days Forties Pipeline Could Remain Shuttered For Weeks
  • 5 days Desjardins Ends Energy Loan Moratorium
  • 5 days ADNOC Distribution IPO Valuation Could Be Lesson For Aramco
  • 5 days Russia May Turn To Cryptocurrencies For Oil Trade
  • 5 days Iraq-Iran Oil Swap Deal To Run For 1 Year
  • 8 days Venezuelan Crude Exports To U.S. Fall To 15-year Lows
  • 8 days Mexico Blames Brazil For Failing Auction

Breaking News:

Iraq Begins To Rebuild Largest Refinery

Tesla Misses 2016 Delivery Target

Elon Musk

Tesla Motors said on Tuesday that it had delivered 76,230 vehicles in 2016, which was less than its target of 79,000 deliveries, but was expected by many analysts.

Deliveries in the fourth quarter came in 22,200 vehicles, including 12,700 Model S and 9,500 Model X cars. The electric carmaker produced 83,922 vehicles last year, up by 64 percent annually.

Tesla boasted “particularly strong” vehicle demand in the fourth quarter, with net orders for Model S and X up by 52 percent from the fourth quarter of 2015 and 24 percent higher than the third quarter of 2016.

At the beginning of this year, Tesla had targeted total 2016 deliveries at 80,000 to 90,000 vehicles, but later revised down the projection to around 79,000 cars. The actual deliveries did not miss the target by much and were expected by most analysts. For the second quarter of 2016, for example, Tesla’s sales missed targets by 15 percent.

The EV maker’s deliveries announcement came on the same day on which Ford Motor Company said it was canceling plans to build a new $1.6-billion plant in Mexico, and would invest $700 million to expand its Flat Rock, Michigan, factory that would build high-tech autonomous and electric vehicles along with the Mustang and Lincoln Continental.

Related: The Companies That Lead The Recovery In The U.S. Oil Patch

The expansion will create 700 direct new jobs, Ford said, in what may be seen as a timely nod to incoming President Donald Trump who had criticized Ford’s plans to build a new factory in Mexico. Ford has not scrapped the plans for a new Mexico plant because of Trump being elected president, but because of lower demand for small cars in North America, Ford CEO Mark Fields has said, Reuters reports.

Last month, President-elect Trump appointed Tesla’s CEO Elon Musk to his Strategic and Policy Forum and despite Trump’s stance on fossil fuels, electric vehicles manufacturing, especially Tesla’s, are creating jobs in America and supporting and boosting what Trump called the “incredible innovation” of the domestic tech industry.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News