Business & Investment

Tesla exceeds expectations with record vehicle delivery

The bullish stock market, which boosted Tesla’s share eight-fold in 2020, was handed a new year’s gift on Saturday as electric car makers reported record deliveries of new cars that comfortably exceeded Wall Street’s expectations. I did.

Tesla It said it delivered 180,570 vehicles in the fourth quarter, surpassing analysts’ expectations of 174,000. Shipments also reached 499,550, within the range of reaching the 2020 target of 500,000 set by CEO Elon Musk earlier this year.

The latest figures suggest that Tesla is firing on all cylinders at the end of the year when the global auto industry suffered a sharp contraction in sales. Sales increased due to the rapid increase in the Shanghai plant, which opened at the beginning of the year, and the launch of the crossover model Y, which is based on the company’s Model 3.

When Tesla With the announcement of the Model 3 in 2016 and a flood of deposits from potential buyers, Musk predicted sales of 1 million units in 2020. The actual number has reached half of that, but the actual number has increased by 36% from the year. Earlier — it was still showing that Tesla was expanding its global operations faster than expected.

Mr. Musk’s goal for Tesla often turned out to be very ambitious, including his claim that a 1m vehicle would act as a fully autonomous “robot taxi” by the end of 2020. Wall Street has repeatedly predicted corporate disasters, despite admitting his frequent anxieties.

“At the start of Tesla, we thought we could (optimistically) survive with a 10% chance,” Musk tweeted after the latest delivery numbers were announced.Last month, he once had model 3 early financial pressure on him Find a meeting We talked to Tim Cook, Apple’s head, about the potential sale.

Quarterly delivery also showed new highs, up 30% from the previous peak hit in the third quarter. The company said it would begin production of the Model Y in China on Saturday, with new plants in Texas and Germany scheduled to begin production this year.

Tesla’s stock entered the S & P 500 Index in December and closed at a record high last year after being valued at $ 669 billion.

Even in Tesla’s financial hardship, Mr. Musk publicly maintained his lofty predictions.At that time, he said he thought Tesla was worth it someday More than apple, Admitting: “I may be delusional.”

Tesla is currently worth about 85% of Apple’s $ 775 billion value at the time, while iPhone makers are now worth more than $ 2 trillion.

Tesla exceeds expectations with record vehicle delivery

https://www.ft.com/content/e8aee566-86ed-4490-aa39-4bcd9a492650 Tesla exceeds expectations with record vehicle delivery

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