Tesla reported Saturday that it produced 509,737 electric vehicles in 2020.
Tesla delivered 499,550 automobiles in 2020, a 36% growth over the preceding year and only a couple of dozen short of reaching an early and long-awaited landmark that CEO Elon Musk has been aiming for over five decades.
Tesla managed to attain the 500,000-vehicle goal by ticking up generation and earnings from the fourth quarter — a last push which has mirrored several other end-of-the-quarter attempts by the business. Tesla delivered 180,570 at the fourth quarter, setting a new annual record and 30% higher compared to the last quarter.
The organization’s manufacturing and sales amounts were driven by the initiation of the Model Y, its own midsize SUV, and also a brand new factory coming online at China.
The fourth quarter and yearly statistics reveals the increase in demand because of its cheaper and newer versions and waning interest in its flagship Model S Condo and Model X SUV. The organization sent 18,920 Model S and Model X vehicles in the fourth quarter and 57,039 for year. Earnings of this Model 3 and Model Y reach almost 162,000 from the fourth quarter and 442,511 for year.
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Tesla does not break out revenue figures for every version, rather mixing its older vehicles to a single bucket and its more recent Model 3 and Model Y vehicles at a different. The business also does not offer regional sales statistics.
Producing and selling over 500,000 vehicles annually appeared unreachable for Tesla only a couple of years back.
However, Musk has obtained a bullish perspective of the business, noting in 2015 he remained convinced that Tesla will be generating half a million cars in 2020.
“That is five years from today,” Musk said in the moment. “If you move five years previously for Tesla, we had been generating 600 cars annually –today we could create 600 cars in 3 days. I believe going out to 500,000 cars a year is a much smaller jump.”
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Musk has revealed that goal occasionally, for example in January of this past year when he noticed that deliveries should exceed 500,000 units.
Tesla did not correct that prediction even as the COVID-19 pandemic upended the market and compelled the business, together with another automaker, to temporarily pause generation for many weeks.
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