Tesla vehicle deliveries climb 36% in 2020 – S&P Global

Highlights

Annual production up 40%

Record production and deliveries achieved in Q4

Strong demand for Model 3/Y vehicles

London — Electric vehicle maker Tesla delivered 499,550 vehicles in 2020, rising 36% year on year, according to the company's latest quarterly report.

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The carmaker had aimed to deliver 500,000 vehicles during the year, although it said in a Jan. 2 statement that the 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."

It added that final numbers could vary by up to 0.5% or more.

In 2020, Tesla delivered 57,039 Model S/X units, down 14% from 2019, although deliveries of Model 3/Y vehicles climbed 47% to 442,511 units.

Total vehicle production for 2020 rose 40% from 2019 to 509,737 units, exceeding the guidance of 500,000 units.

Of the total, 54,805 were Model S/X, slipping 13% on the year, and 454,932 were Model 3/Y, rising 52%

Record Q4 deliveries

Tesla delivered a record 180,570 units in the fourth quarter, up 61% year on year and 30% higher than in Q3.

This comprised 18,920 Model S/X units and 161,650 Model 3/Y units, with the former down 3% year on year but up 24% from Q3, and the latter up 75% on the year and 30% from Q3.

The EV maker also produced a record 179,757 vehicles in the fourth quarter, 71% higher on the year and up 24% from Q3.

Fourth quarter production included 16,097 Model S/X units, dropping 10% on the year and down 5% from Q3, while production of Model 3/Y cars rose 88% year on year and 28% from Q3 to 163,660 units.

Tesla did not provide any other commentary on the delivery and production numbers, saying it would announce its net income and cash flow results along with the rest of its financial performance in its Q4 earnings announcement.

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