Palo Alto’s Tesla deliveries beat annual estimates for 2020, sales up 36%

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Palo Alto’s Tesla deliveries beat annual estimates for 2020, sales up 36%

On Saturday, Tesla Inc., the Palo Alto, California-headquartered world’s largest carmaker in terms of market valuation by far ahead of Japan’s Toyota Motor Corp., had laid out a better-than-anticipated annual vehicle deliveries, largely propelled by a persistent growth in e-vehicle adoption, nonetheless, the e-vehicle manufacturer’s 2020 deliveries had narrowly fallen short of Elon Musk’s ambitious target of 500,000 deliveries.

In tandem, Tesla Inc., high-flying shares of which were included into S&P 500 Index on December 19 last year, canvasing its footprints in the league of deep-pocket Wall Street legends, said in a statement late in the day that the company had delivered 499,500 vehicles over 2020, above Wall Street estimates of an average of 481,261 vehicles, however, fell just 450 units shy of Chief Executive Elon Musk’s target set earlier last year.

Musk tweets ‘proud of Tesla team’s achievement in 2020'

Aside from that, as the Tesla boss Elon Musk, the second-richest men across the globe having had a net asset worth of $178 billion to-date, came across a cascade of congratulations in Twitter followed by the announcement, citing a through and through optimism, Musk tweeted late in the day, “...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”. In actuality, despite a deluge of criticisms over the course last year, Tesla Inc. shares’ prices skyrocketed more than 700 per cent in 2020 as Tesla short-sellers had lost a whopping $38 billion last year, data from Refinitiv had revealed, while the company had factually flabbergasted a flurry of industry analysts on July last year after it had reported a meteoric rise in deliveries defying the pandemic-led hindrances in production lines.

Concomitantly, 2020 could be a year in the red inks for almost all of the passenger car makers across the globe, but Tesla Inc. had reported a five-straight quarter of profits last month as more an more countries were inclining stiffer measures to curb out emissions in order to reach a 2017 Paris Agreement on Climate Change, from which an incumbent Trump Administration, scheduled to hand over the Oval Office to a climate-friendly Biden Administration by January 20, had withdrawn itself back in the June of 2017.