Tesla Failed To Meet Its 2016 Delivery Target, But It's Not All Bad News

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Telsa's Chief Executive Elon Musk might need to start setting less lofty delivery targets.

2016 was a year of highs and lows, but mostly lows for Tesla when you look at its ambitious targets. The electric car maker has confirmed that it failed to meet its delivery goal last year, with a total of 76,230 vehicles shipped to customers around the world falling just short of its 80,000 target. The news that the Faraday FF 91 has beaten Tesla's record for the fastest accelerating production car in the world probably hasn't lifted the company's spirits, either.

It's not all doom and gloom, however. The number of deliveries last year was up considerably when compared to the previous year – Tesla delivered 50,580 cars in 2015. Q4 sales were also on the rise: Tesla sold 22,200 vehicles in the final quarter of 2016, a 27 percent increase from the 17,478 delivered in Q4 2015. In total, 83,922 Teslas were produced in 2016, representing a 64 percent increase from 2015 - an achievement that should be celebrated. Perhaps the company's Chief Executive Elon Musk needs to set less lofty goals. Tesla says that Autopilot hardware updates adding autonomous driving functionality were to blame for the shortfall in deliveries.

Because of short-term production challenges starting at the end of October and lasting through early December from the transition to new Autopilot hardware, Q4 vehicle production was weighted more heavily towards the end of the quarter than we had originally planned," the automaker said in a statement. "We were ultimately able to recover and hit our production goal, but the delay in production resulted in challenges that impacted quarterly deliveries, including, among other things, cars missing shipping cutoffs for Europe and Asia." Around 6,000 remaining Teslas are expected to be delivered to waiting customers in the first quarter of 2017.

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