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Tesla 2020 Deliveries Fall Just Short Of Elon Musk' Target

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Luxury electric car maker Tesla delivered about 499,550 vehicles in 2020, beating analysts' expectation of 481,261 vehicles. But the deliveries slightly missed the company's most recent guidance of 500,000 vehicles.

The annual vehicle deliveries represented an increase of 36 percent from 2019. The automaker produced 509,737 vehicles in 2020.

Tesla had predicted in earlier 2020 that it would comfortably exceed deliveries of 500,000 cars for the year. The target was unchanged despite the COVID-19 pandemic.

In 2020, Tesla delivered 442,511 Model 3 and Model Y cars, while producing 454,932 of the vehicles. It delivered 57,039 Model S and Model X cars, while producing 54,805 vehicles.

The company's CEO Elon Musk tweeted that he was "proud of the Tesla team for achieving this major milestone."

"At the start of Tesla, I thought we had (optimistically) a 10% chance of surviving at all," he tweeted.

Tesla, which joined the Standard & Poor's 500 Index on 21st December, delivered 180,570 vehicles and produced 179,757 vehicles in the fourth quarter.

In the fourth quarter, Tesla delivered 161,650 Model 3 and Model Y cars and produced 163,660 vehicles. The company also delivered 18,920 Model S and X vehicles and produced 16,097 vehicles.

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