Tesla said after markets closed Tuesday that it delivered about 22,200 vehicles in the fourth quarter and 76,230 for the year, missing already-trimmed full-year estimates. The automaker delivered 12,700 Model S and 9,500 Model X sedans. It said it also had about 6,450 vehicles in transit to customers at the end of the quarter, which will count as first-quarter 2017 deliveries.

Tesla shares declined nearly 3% to $212.35 in premarket trading Wednesday after rising 1.5% on Tuesday.

“Because of short-term production challenges starting at the end of October and lasting through early December,” production was weighted towards late in the quarter, conceded Tesla. The company said that the delay stemmed from its transition to new Autopilot hardware.

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