Tesla’s fourth quarter hits record, with 2020 shipments of 499,550 vehicles

Tesla ended 2020 with a 36% increase in shipments from 2019, slightly short of the half-million-electric vehicle target. At the same time, Q4 deliveries set a new record and exceeded expectations. Model Y production in the US already exceeds Model 3, according to NHTSA.

Tesla shares (TSLA), which rose 743.4% in 2020, closed at a new high of $ 705.67 on Thursday.

On Saturday, Tesla released its fourth-quarter electric vehicle shipments report, setting another record and moving closer to reaching its half-million-year 2020 forecast.

The total number of electric vehicles delivered to Tesla customers in the fourth quarter was 180,570, up 29% from the previous third-quarter record of 139,300 and 61% more than in the same quarter of 2019. Wall Street’s median forecasts were 174,000 among analysts (estimate range: 151,000 – 184,000 units).

Tesla produced a total of 179,757 electric vehicles in the fourth quarter.

For all of 2020, Tesla delivered 499,550 vehicles, slightly below its often-repeated target of 500,000 EVs, but in line with the 477,750 to 514,500 range announced at its shareholders’ meeting earlier this year.

Analysts praised the company’s accomplishments given that Tesla’s predictions were made before the coronavirus pandemic began.

This suggests that the company has managed to increase production capacity, including at a plant in China, and to establish large supplies, achieving high efficiency in supply chains.

The CEO tweeted after the report, “So proud of the Tesla team for reaching this milestone! At the beginning [истории] Tesla I thought we (optimistically) had a 10% chance of surviving at all. “

Tesla does not disclose separate supply and production figures by region in its reports, and also merges Model 3 figures with Model Y and Modes S and Model X.

According to the results of the 4th quarter, the number of Model 3 and Model Y produced amounted to 163 660, 161 650 units delivered; the produced Model S and X are several times less: 16 097, with the number of deliveries 18 920.

For 2020 Tesla produced 454,932 Model 3 and Model Y, delivering 442,511, Model S and Model X produced 54,805 and delivered 57,039.

Model Y production

Production of the first Model Y crossovers began in late 2019, with the first large volumes in 2020. Tesla executives have repeatedly said they see great promise for the Model Y, expecting shipments to surpass all three other models combined over time.

Tesla produced 29,216 Model Ys and 22,667 Model 3s in the third quarter of 2020, according to the US National Highway Traffic Safety Administration (NHTSA), which receives quarterly reports from automakers.

Tesla said Saturday that its Shanghai plant has begun production of the Model Y and deliveries are expected to begin shortly.

Tesla plans and forecasts for 2021

Tesla has big plans for 2021 as the company builds a new plant in Brandenburg, Germany and plans to begin building a second U.S. plant in Austin, Texas.

At the same time, Elon Musk warned shareholders in the company’s latest P&L announcement that it could take 12 to 24 months for new factories to reach full capacity after they start operating, which is significantly slower than what Tesla has reached the Shanghai plant.

According to Tesla’s current post on its website, “The Cybertruck is slated to launch in late 2021 in a twin AWD version. Single engine versions will be released in late 2022. ”

In the summer of 2020, Musk announced that the Tesla Semi electric truck (announced back in 2017) would be assembled at a new plant in Austin.

Speaking of the new plant, the CEO said, “We’re going to build a large plant there. We will build the Cybertruck, Tesla Semi, and Model 3 and Y for eastern North America there. ”

Wall Street forecasts for Tesla shipments in 2021 averaged 797,000, up 60% from 2020.

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