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Tesla’s Massive Month of Dutch Demand Buoys Model 3 Deliveries

Dana Hull and Ellen Proper
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Tesla’s Massive Month of Dutch Demand Buoys Model 3 Deliveries

(Bloomberg) -- A surge of Model 3 vehicles registered in the Netherlands this month could help Tesla Inc. meet its vehicle-delivery goal.

As of Tuesday morning, 11,563 Model 3s were registered in the country in December, according to Kentekenradar, which publishes daily Dutch fleet data updates. Tesla needs to hand over roughly 105,000 vehicles worldwide this quarter to hit the low end of its guidance for 360,000 to 400,000 vehicle deliveries this year.

Dutch car buyers have been rushing purchases of electric vehicles to take advantage of subsidies that expire at the end of 2019. Registering a Tesla Model 3 before year-end safeguards a 4% tax for the following five years on the portion of the list price below 50,000 euros ($56,115). The tax rate doubles to 8% and price threshold dips to 45,000 euros starting Jan. 1.

Tesla owners around the world typically pitch in at the company’s delivery centers at the end of the quarter, bringing doughnuts to employees and volunteering to help guide new owners through the various features of their cars, including in Amsterdam.

Chief Executive Officer Elon Musk tweeted Monday that he would head to the company’s factory in Fremont, California, on the last day of the quarter to help with deliveries.

Tesla handed over a record 97,000 vehicles in the third quarter and is expected to report later this week that it set a new high-water mark in the fourth quarter. The Palo Alto, California-based company’s shares rose 1.1% to $419.18 as of 11:50 a.m. Tuesday in New York.

To contact the reporters on this story: Dana Hull in San Francisco at dhull12@bloomberg.net;Ellen Proper in Amsterdam at eproper@bloomberg.net

To contact the editors responsible for this story: Craig Trudell at ctrudell1@bloomberg.net, Kevin Miller

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