Half a million cars, Tesla hits a huge milestone in 2020!

2020 appears to be quiet a fortunate one for the leading electric vehicle Tesla. It seems that nobody is born to overshadow Tesla! Right from its inception, Tesla has always been at the pinnacle of success! The recent records are suggestive of the fact that they have once again made a groundbreaking achievement in the previous year.

Of late, Tesla Inc on Saturday reported that something unexpected has happened the previous year. A better-than-expected 2020 vehicle deliveries, driven by a steady rise in electric vehicle adoption across the world’s largest economies was something that was beyond imagination.

The logo marks the showroom and service center for the US automotive and energy company Tesla in Amsterdam on October 23, 2019. (Photo by JOHN THYS / AFP) (Photo by JOHN THYS/AFP via Getty Images)

According to a recent press report, the company delivered 499,550 vehicles during 2020, which was above Wall Street estimates of 481,261 vehicles, according to Refinitiv data-but 450 units shy of CEO Elon Musk’s target. Indeed a remarkable victory in the midst of pandemic challenges!

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Most recently, the entire Tesla team expressed their wholehearted gratitude to all those who including the customers, employees, suppliers, shareholders and supporters who helped them achieve another great year and made this venture a grand success via their Twitter post.

Tesla’s Twitter status

Following this, Elon Musk, the CEO of Tesla expressed his concern and congratulated the entire team of Tesla for making this happen even in the midst of a global economic crisis caused primarily due to the COVID-19 pandemic.

Elon Musk thanked team Tesla for their grand success in 2020!

Elon Musk congratulated the Tesla team

A detailed statistical data of their production and deliveries were given by the Tesla team to exhibit the humongous change that it has made in the previous year. Palo Alto, California-based Tesla said it delivered 180,570 vehicles during the fourth quarter, a quarterly record for the electric carmaker, beating estimates of 163,628 vehicles. Following this they have also announced that Model Y production in Shanghai has begun and the deliveries are expected to begin shortly. Indeed happy news for many!

Why did Tesla stock skyrocketed on Monday
Why did Tesla stock skyrocketed on Monday

Tesla at the start of 2020 said it would “comfortably exceed 500,000 units” for the year, a target it has left unchanged despite the pandemic. Chief Financial Officer Zachary Kirkhorn in October said Tesla was “aiming to achieve (its) original 2020 guidance.” Now, with this huge success, Tesla’s share price has risen more than 700% over the last year, the company has reported five consecutive quarterly profits and in December it was included in the S&P 500 index.

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