Tesla stock hits record as 2019 sales rise more than 50%

DETROIT (AP) – Shares of electric car maker Tesla Inc. hit a record closing price Friday after the company reported that its global deliveries rose more than 50% last year.

The announcement meant the company surpassed the low end of its sales goals for 2019. The announcement pushed Tesla’s shares up nearly 3% to $443.01.

The electric car maker delivered a record of about 112,000 vehicles in the fourth quarter and about 367,500 for the full year. Tesla had earlier projected deliveries of between 360,000 and 400,000 units worldwide. The lower-cost Model 3 accounted for 83% of the company’s fourth-quarter sales at 92,550. The higher priced Model S Sedan and Model X large SUV made up the rest.