Tesla delivered record number of cars in 2020

Publish January 5, 2021

Tesla delivered a record number of cars in 2020, the company said, just narrowly missing its half a million target for the year.
The pioneering high-end electric vehicle maker delivered 180,570 cars to customers and produced 179,757 in the fourth quarter of the year, it said in a statement Saturday.
Tesla’s previous record was 139,300 vehicles delivered in the third quarter of 2020.
For the full year, Tesla delivered 499,550 cars to customers, just shy of its target of half a million, and produced 509,737 units.
The firm said its delivery count was conservative and that final numbers could vary by up to half a percentage point or more.
Tesla chief and co-founder Elon Musk hailed the figures as a “major milestone” for the firm.
“At the start of Tesla, I thought we had (optimistically) a 10% chance of surviving at all,” the mercurial tech entrepreneur tweeted.
Tesla’s entry-level Model 3 and its crossover Model Y accounted for nearly 86 percent of deliveries, with the balance split between the luxury Model S sedan and the Model X SUV.
The company also said Saturday that production of its Model Y had begun at its Chinese plant in Shanghai, with deliveries expected to begin shortly.
Tesla has long aimed to manufacture electric cars for the masses and in September Musk, the world’s second richest person, said developments in battery technology meant the firm was looking at fielding a $25,000 model in around three years’ time.
The company joined the prestigious Standard & Poor’s 500 stock index on December 21.
Though its car production is modest compared with rivals, Tesla’s growth prospects have spurred investors to push up its value so that it is now worth more than General Motors, Ford, Toyota, Honda, Fiat Chrysler and Volkswagen combined.
Model Y production in China
Tesla has begun manufacturing Model Y vehicles in Shanghai, China, the electric automaker announced Friday.
Pre-sales of the Shanghai-manufactured SUV crossover, which launched on Friday, start at 339,000 yuan ($52,074) for the long range version, and 369,900 yuan ($57,235) for the performance version.
These prices are almost a third cheaper than what Tesla quoted in August.
The discount could lead to high demand for Elon Musk’s company in the world’s largest car market, which could be crucial to Tesla’s success.
Sales in China could be central to Tesla’s success.
Tesla could deliver one million vehicles in 2022 because of “eye popping demand” from China, which could account for 40% of its global sales, Wedbush analyst Daniel Ives said in December. The country is the “heart and lungs” of Tesla’s demand growth story, he added.
Tesla sold roughly 22,000 Model 3 vehicles in China in November.
But as demand for electric vehicles grows in China, thanks in part to generous government subsidies, Tesla is facing increasing competition from local rivals.
Chinese start-ups Nio, Li Auto, and Xpeng all announced surging electric vehicle sales in 2020. Nio and Xpeng both said that annual deliveries more than doubled in 202o, and Li Auto delivered 32,624 cars in its first full year of trading.


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