Tesla has announced it has met its annual guidance and delivered 500,000 vehicles in 2020.
In a press release this morning, the automaker detailed its Q4 2020 production and delivery numbers, showing it was able to manufacture 179,757 units in the quarter. That improves from its previous best in Q3 2020 where it produced 145,036 vehicles.
|Production||Deliveries||Subject to operating lease accounting|
That massive quarterly production figure helped Tesla reach its annual guidance of 500,000 vehicle deliveries, announcing it had handed over 499,950 vehicles to new customers in the year. That represents a massive 36% increase from 2019.
This number is just a preliminary estimate and will likely increase when the company announces its quarterly and annual report later this month.
“Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more.”
What makes these numbers even more impressive is that it was able to reach this number despite a 2 months shutdown of its main facility in Fremont during the COVID-19 outbreak early in the year.
CEO Elon Musk took to Twitter shortly after the announcement to thank all employees for their hard work in achieving this milestone.
So 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. https://t.co/xCqTL5TGlE
— Elon Musk (@elonmusk) January 2, 2021
It will be an interesting morning when markets reopen on Monday. Along with beating estimates and meeting its annual guidance, Tesla also announced deliveries of the Model Y will begin in China this month. With a very competitive price, initial reports estimated over 100,000 orders within the first 10 hours of the announcement.