Tesla shares jumped as much as 5% to a record high on Monday after the automaker revealed over the weekend that it delivered about 500,000 vehicles to customers last year. The stock-price surge added up to $36 billion to the automaker’s market capitalization, lifting it past $700 billion for the first time.
Elon Musk’s electric-car company recorded 499,550 deliveries in 2020 – 450 short of its target. However, Tesla said its delivery figures tend to be “slightly conservative” and the final number could vary by 0.5% or more. Therefore, Musk and his team counted the performance as achieving their goal.
Q4 2020
| Production | Deliveries | |
| Model S/X | 16,097 | 18,920 |
| Model 3/Y | 163,660 | 161,650 |
| Total | 179,757 | 180,570 |
2020
| Production | Deliveries | ||
| Model S/X | 54,805 | 57,039 | |
| Model 3/Y | 454,932 | 442,511 | |
| Total | 509,737 | 499,550 |
Tesla hustled to hit its numbers last quarter. Its deliveries stood at about 318,000 at the end of September, meaning it had to deliver a demanding 180,000 vehicles in the fourth quarter.
Musk’s company also achieved its production target. It manufactured about 509,000 vehicles in 2020, exceeding its goal of 500,000.