Tesla Delivers Nearly 500,000 Vehicles in 2020, Breaks Record

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【Summary】Tesla recently published its fourth-quarter vehicle delivery figures for 2020 and the electric automaker delivered 180,570 EVs, up from its previous record of 139,300 vehicles.

Original Vineeth Joel Patel    Feb 08, 2021 2:00 PM PT
Tesla Delivers Nearly 500,000 Vehicles in 2020, Breaks Record

It's no secret that Tesla sells some of the most popular electric vehicles on the market. While other automakers struggle to sell their EVs, Tesla has the other problem – it struggles to get production up to meet demand. On Saturday, Tesla announced its end-of-the-year delivery report and the automaker broke its previous record, as well as expectations set by Wall Street.

Almost Breaking 500K Units

During the fourth quarter of 2020, Tesla delivered a total of 180,570 units of the Model S, Model X, Model 3, and Model Y. That total accounts for all global deliveries, not just the ones delivered in the U.S. The last quarter of 2020 was a good one for Tesla, which set a new all-time delivery record. The automaker, though, just barely missed out on target figures that ranged from 190,000 to 200,000 deliveries set at the beginning of the year. Still, delivering 180,570 in a quarter certainly isn't a bad thing.

Throughout the entire year, Tesla delivered a total of 499,550 electric cars. Looking closer at the breakdown, the Model 3 and Model Y accounted for the majority of those. The automaker's two more affordable vehicles accounted for 442,511 units delivered. Only 57,039 units of the Model X and Model S were delivered in 2020. We'd love to see more specific figures for Tesla's EVs, but they aren't available. We have a theory that the Model Y was the most popular vehicle in Tesla's lineup in 2020, but without any concrete information, it will just remain a theory.

When it comes to how many vehicles the automaker produced, the total is even more impressive. In 2020, Tesla manufactured a total of 509,737 EVs globally. Once again, the Model 3 and Model Y were the most manufactured models, accounting for 454,932 units made.

2021 Looks Good For Tesla

Part of the reason why Tesla was able to set new records in 2020 is because of how it was able to increase vehicle production. More specifically, production for the Model Y. The automaker got its new plant in Shanghai running and also brought on a new battery-cell supplier, increasing the overall number of battery packs it could produce. Tesla just started producing the Model Y in Shanghai recently, so we're expecting 2021 to be an even better year.

"In 2020, we produced and delivered half a million vehicles, in line with our most recent guidance," stated Tesla. "In addition, Model Y production in Shanghai has begun, with deliveries expected to begin shortly."

With Tesla setting new records for production and deliveries, the next thing we're itching to see is how the automaker did financially. Because of the high prices of batteries, manufacturing, and related costs that go into producing an electric vehicle relative to a car with an internal combustion engine, automakers haven't been able to turn a profit with their respective EVs. Tesla won't announce net income and cash flow data until the automaker announces its Q4 earnings, which should be before the end of the first quarter in 2021. Hopefully, the record-breaking year correlates to a profitable year for the automaker, which would bring even more competition to market.

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