Breaking: Tesla Hits New All-Time High After 4Q Deliveries

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© Reuters. © Reuters. — Tesla stock hit a new all-time high of $453.65 in early trading on Friday, after the company said it had delivered a record 112,000 vehicles in the three months through December.

“Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct,” Tesla said in a statement. “Final numbers could vary by up to 0.5% or more.”

The company has this week begun shipping cars from its new factory in Shanghai, less than 12 months after breaking ground on the project. The start of local production enabled it to cut prices for the Model 3 sedan by 9%, in a move that should help it gain more traction in the world’s largest market for electric vehicles.

By 9:48 AM ET, the stock was at $447.37, up 4.0% on the day.

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