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Tesla reached half a million vehicles target in 2020

Byadmin

Dec 13, 2020
tesla

On Saturday, the company announced that in New York (CNN Business) Tesla (TSLA) has achieved its goal of building half a million vehicles for the first time in 2020.

Completed deliveries to customers that slightly differ from production figures did not achieve the same target as 499,550 vehicles were delivered. However, total sales are approaching the target of 500,000 units. Annual production and shipments are up more than a third from 2019 levels, an impressive gain, especially as the company’s main plant in Fremont, California was closed for nearly two months from mid-March to early May due to for Covid-19. Couch potatoes. The global recession caused by the pandemic is also chopping up worldwide car sales. New Tesla factory in Shanghai, which opened in late 2019, has been a key element in increasing production and sales.
Government said that Tesla will start selling cars in India next year. The company produced 179,757 vehicles in the fourth quarter, up 71% from a year earlier, and produced 180,570 vehicles, which is 61% more. While Tesla CEO Elon Musk said in October that the company would reach the 500,000 vehicle target per year, Wall Street analysts expected the company to miss out on about 9,000 vehicles, not a few hundred.


Government said that Tesla will start selling cars in India next year. The company produced 179,757 vehicles in the fourth quarter, up 71% from a year earlier, and produced 180,570 vehicles, which is 61% more. While Tesla CEO Elon Musk said in October that the company would reach the 500,000 vehicle target per year, Wall Street analysts expected the company to miss out on about 9,000 vehicles, not a few hundred.


The company’s impressive sales growth is nothing compared to Tesla’s (TSLA) share price rise, which soared 743% in a year. The company’s results for 2019 and 2020 proved that it can be consistently profitable, and its forecast of future sales and profit growth has boosted inventory.

Other automakers are due to report their US sales on Tuesday, with global sales for 2020 later this month. But most of them are expected to report falling sales due to the impact of the recession and pandemic. As impressive as Tesla’s sales figures are, they are lagging behind reputable automakers. Volkswagen (VLKAF), the world’s largest automaker, sold just under 11 million vehicles worldwide in 2019. General Motors, the largest U.S. automaker, produced 7.7 million vehicles globally in 2019. Tesla’s stock rally over the past 18 months has made it the world’s most valuable automaker. Its current market capitalization is roughly equal to the combined value of the next eight most expensive carmakers in the world – Toyota (TM), Volkswagen, Daimler (DDAIF), GM (GM), BMW, Honda (HMC), Hyundai and Ford (F). …

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