Tesla delivers record 90,700 cars in Q4

The company says its achievements in 2018 represent the "biggest single-year growth in the history of the automotive industry."

Tesla has posted another record quarter with production reaching 86,555 units and deliveries climbing to 90,700 vehicles.

Production volume was up by eight percent from the previous high in Q3, with Model 3 output rising by 15 percent to 61,394 units. The Model S and X leveled off at around 25,000 units, reaching Tesla's target of 100,000 units annually.

Comparing Q4 to Q1, the company's delivery run rate nearly tripled from about 120,000 vehicles per year to more than 350,000 vehicles per year.

"Tesla's achievements in 2018 likely represent the biggest single-year growth in the history of the automotive industry," the company said in a statement. "Additionally, 2018 was the first time in decades that an American car - the Model 3 - was the best-selling premium vehicle in the US for the full year, with US sales of Model 3 roughly double those of the runner up."

The automaker says it has significantly improved its North American logistics network to reduce inventory levels. Model 3 distribution is also set to expand into Europe and China by February, while other markets will be added later in the year.