Tesla set delivery guidance of 500,000 units by the end of 2020 and the last days of the year that passed, Elon Musk said the goal, however ambitious, was achievable. In the end, the automaker reported that the total EV assembly for last year did surpass the half-million mark.
The data shared by the company showed that total delivery in Q4 2020 reached 180,570 units, and the figures represent a leap of more than 40,000 EVs from the previous quarter. That means Tesla posted growth in six consecutive quarters, which alone should be a reason to celebrate.
Unfortunately though, the company missed the target that Musk had set five years ago. The CEO said Tesla will start delivering 500,000 EVs starting in 2020 and by the last month of that past year, he appeared on track to realize that dream.
The final delivery count was set at 499,550, meaning the goal was missed by a hairline of 450 EVs. But Tesla wrote a new record. CNBC said the automaker's best quarter was seen in September 2020 when more than 139,000 EVs were delivered to buyers.
The achievement allowed Tesla to beat Wall Street estimates. And considering that production was hampered by a few months due to the coronavirus pandemic, there is little doubt that the company exceeded expectations.
The record production and delivery numbers saw a great boost last year thanks to the high demand generated by the Model 3 and Model Y. The two EVs registered a combined delivery of 442,511 units in 2020 and the balanced was provided by the Model S and Model X.
Personally, Musk might be disappointed but analysts are not of the same sentiment. The global health crisis that started in early 2020 prompted market watchers to adjust their expectations but Tesla continued to surprise by keeping on the growth trajectory first in the last half of 2019.
And even Musk insisted that his dreams for Tesla will be realized by the end of 2020, analysts played safe and projected realistic numbers for the American company. Musk pushed hard and the end result was stunning enough.
According to Electrek, 2020 proved momentous for Tesla. On both the production and delivery aspects, the automaker showcased remarkable tenacity. Not minding the obstacles, Tesla posted incredible growth numbers and to think that producing electric vehicles is not exactly easy.
Musk indeed deserved a victory lap but per the same report, the maverick Tesla boss is not expected to continue applauding for an extended period. He likely will return to work shortly as he set the bar higher this 2021 - one million EVs to be delivered when the year ends and this will be made possible by the three Gigafactories in Austin, Berlin, and Shanghai programmed to go online in the second half of the year.
