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."
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.