Tesla, Inc.

Good day, ladies and gentlemen, and welcome to the Tesla Inc. Q4 2018 Financial Results and Q&A Webcast. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. If anyone should require assistance during the conference, please press star then zero on your touch-tone telephone. As a reminder, this conference is being recorded. I would like to introduce your host for today's call, Mr. Martin Vieca, Senior Director of Investor Relations. Mr. Vieca, you may begin.

Thank you, Sherry, and good afternoon, everyone. Welcome to Tesla's fourth quarter 2018 Q&A webcast. I'm joined today by Elon Musk, J.B. Straubel, Deepak Ahuja, and a number of other executives. Our Q4 results were announced at about 1 p.m. Pacific time in the update letter we published at the same link as this webcast. During this call, we will discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in our most recent filings with the SEC. During the question and answer portion of today's call, please limit yourself to one question and one follow-up. Please press star 1 now if you would like to join the question queue. But before we jump into Q&A, Elon has some opening remarks. Elon? Thanks, Martin.

Last year was definitely the most challenging year in Tesla history, but also the most successful. Thanks to the incredible work of the Tesla team, Model 3 became the best-selling premium vehicle in the U.S. for 2018. And, in fact, when considering battery electric vehicles, Tesla achieved an 80% market share of U.S. sales last year. I think this point is perhaps not well appreciated. All other electric vehicles combined were 20% of sales in the US last year. So I think that's not bad. We also delivered almost as many vehicles last year as we did in all prior years combined, which is a tremendous achievement by the Tesla team. If you track Tesla vehicle production year-over-year, cumulative sales and deliveries year-over-year is about the cleanest exponential I've ever seen. We've basically almost doubled our fleet every year. Every year we make as many cars as we did in all prior years. So this is a very unusual thing to see, especially for a large, complex manufactured object. I think it may be the fastest that a complex manufacturer object is like a car has grown in history, or at least I'm not aware of anything that is faster. Martin, are you?