Tesla distributed a record number of cars in 2020
Tesla distributed a record number of cars in 2020. The organization barely missed its half a million sales target for the year despite the record. In reality, at its target of half a million cars, that was its productivity.
Elon Musk’s electric vehicle manufacturer shipped 180,570 cars to customers and manufactured 179,757, the company said in a statement on Saturday. In the third quarter of 2020, Tesla’s previous record was 139,300 vehicles delivered. Tesla delivered 499,550 cars to customers for the full year (just a little bit off its half a million target) and manufactured 509,737 vehicles.
The business said it was cautious in its delivery count and that final figures could differ by up to half a percentage point or more. Musk, clearly exuberant about this growth, hailed the figures as a “major milestone” for the venture. With the balance divided between the premium Model S sedan and the Model X SUV, Tesla’s entry-level Model 3 and its crossover Model Y accounted for nearly 86 percent of deliveries.
Increasing Company Value
Tesla has long planned to build electric vehicles for the masses. Musk, the second wealthiest individual globally, said advances in battery technology meant the company was looking at fielding a $25,000 model in around three years.
On December 21, the firm entered the prestigious Standard & Poor’s 500 stock index. Although its car production is modest relative to competitors, the growth expectations of Tesla have prompted investors to push its valuation such that it is now worth more than the combined value of General Motors, Ford, Toyota, Honda, Fiat Chrysler, and Volkswagen.