Tesla misses its annual sale target of 500,000 vehicles by just 450 units

Tesla Inc, the US-based electric vehicle
company, made higher-than-anticipated vehicle sales in 2020, considering how
harsh the year has been on the global auto industry. But, it missed its annual
target by a mere 450 units, Reuters reported.

It delivered 499,550 vehicles during
the entire year, crossing Wall Street estimates of 481,261
vehicles, according to Refinitv data.

CEO Elon Musk congratulated the entire
team for their faith and hard work.

“At the
start of Tesla, I thought we had (optimistically) a 10% chance of surviving at
all,” he said.

Many well-wishers and investors lionized
the electric vehicle maker for a successful year, that battled through hardships
like dwindling sales, quarterly losses and global supply chain disruptions.

As 2020 began, Tesla set a target of ‘comfortable
exceeding 5,00,000 units’ for the year, a target it almost reached, which calls
for a applaud due to the pandemic. Chief Financial Officer Zachary Kirkhorn in
October said Tesla was “aiming to achieve (its) original 2020
guidance.”

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Tesla is depending on new markets like
Europe and Asia as competition intensifies in its home turf. Its new Shanghai
factory is the only plant producing vehicles outside outside California.

In the fourth quarter,
Tesla delivered a whopping 1,80,570 vehicles.