Tesla Motors reported a loss of 87 cents per share for the fourth quarter of 2015, which was worse than experts' projections. The electric car company earned $1.75 billion sales during Q4 while year-over-year revenue increased 59 percent. However, Tesla stock prices spiked on February 10, Wednesday due to strong electric vehicle (EV) deliveries this year for the Model S and March introduction of the Model 3.  

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The loss from Q4 was due to a 13-cent stock price drop. Wall Street analysts had expected Elon Musk's EV company to report earnings of 10 cents per share based on an estimate by Thomson Reuters, according to CNBC.  

Tesla reported that it delivered 17,478 automobiles during Q4. That included 206 Model X sports utility vehicles.

The company's global deliveries increased around three-quarters year over year for Q4. Musk called the figures "dramatic" during a conference call.  

However, Tesla's shares rocketed over 10 percent due to after-hours sharing. That was due to the company's positive projections for 2016 that include the delivery of 80,000 to 90,000 e-cars.  

This year Tesla shares have plummeted around 40 percent. This was due to global stock sell-offs.  

Wall Street analysts have noted some possible issues for 2016. They include manufacturing problems for its Model X crossover SUV and new Model 3 sedan, and low gas prices.  

Tesla plans to deliver around 16,000 electric cars during this year, which would be a 60 percent year-over-year increase. It also believes its average sale will rise this year due to higher Model X deliveries.

The company also believes the Model S will have profit margins of nearly 30 percent by the end of 2016. They will likely be about 25 percent for the Model X.

However, Tesla has not taken steps to reduce spending. Its operating expenses hit $429 million in Q4, which was 18 percent higher than Q3. The company expects expenses to rise around 20 percent this year as it plans to launch its Model 3 next year.

Tesla Motors will unveil its Model 3 on March 31, according to Engadget. It will have a price tag of about $35K before electric vehicle incentives, and is scheduled to hit the retail market in late 2017.

Here are some details about the Model 3: