In 2020, due to the year-end sales boom, the manufacturer shipped 499,550 vehicles.
In the final three months of 2020, Tesla announced record deliveries of its electric cars, narrowly missing the annual target set by CEO Elon Musk of half a million cars.
After a final quarter that exceeded analysts’ forecasts, the annual sales of the California-based producer grew 36 percent, delivering a total of 499,550 cars in 2020.
Between October and December, Tesla delivered 180,570 electric vehicles, narrowly missing the overall Musk target set earlier this year, before the coronavirus pandemic outbreak.
In the spring, Covid-19 forced the closure of the U.S. assembly plant in Fremont, but Musk encouraged workers to speed up production to meet the target and last week offered rewards, including free ‘self-driving’ options worth $10,000 (EUR 7,300) for Tesla cars whose paperwork and delivery were completed in the final days of December.
While it seemed to have missed its target, Tesla said it had “produced and delivered half a million vehicles, in line with our last forecast,” and Musk hailed it as a “important milestone.”
“So proud of the Tesla team for reaching this important milestone! At the beginning of Tesla, we thought we had (optimistically) a 10 percent chance of even surviving.”So proud of the Tesla team for reaching this significant milestone! We thought we had (optimistically) a 10% chance of even surviving at the beginning of Tesla.
Elon Musk the Elon Musk
I am so proud of the Tesla team for having achieved this significant milestone! I figured we had (optimistically) a 10 percent chance of surviving at all at the beginning of Tesla. https://t.co/xCqTL5TGlE GlE
2nd January, 2021
In 2020, the company manufactured more than 509,000 vehicles. At its Chinese plant in Shanghai, production of the Model Y SUV has also begun, and deliveries are expected to begin soon, Tesla said.
Tesla’s share price, which increased eightfold in 2020, ended the year at more than $705, valuing the company at $669 billion – 20 percent of which is owned by Musk himself, who is the second richest man in the world.
It overtook Toyota earlier this year as the world’s most valuable automaker and was added to Wall Street’s prestigious S&P index last month, instantly becoming the sixth most valuable publicly traded company.