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Tesla sales: good but no good enough?INTL

Tesla sales: good but no good enough?

While many are taking to social media to hail Tesla’s astounding delivery numbers from last year, CEO Elon Musk is probably telling himself off at the moment.

Tesla reportedly sold 499,550 cars during 2020, surpassing Wall Street estimates of 481,261. But, if you may remember, Musk did claim at the beginning of the year that the company would “comfortably exceed 500,000 units”, and he did leave the target unchanged despite the impacts of the coronavirus pandemic (ambitious much?). So, technically, it looks like the automaker was 450 units shy of his very own target.

Although the controversial billionaire Tweeted he was “proud” of his company for achieving what he deemed a “major milestone” after reporting better-than-expected vehicle deliveries in 2020, Musk knows better than anyone that the internet never forgets (cough Joe Rogan cough).

why it matters
Tesla’s full year report is major news in the auto industry. In a year taken over by global supply chain disruptions, slumping sales, and quarterly losses on losses, Tesla's achievement is nothing short of extraordinary. The company’s share price rose over 700% in the last year and it reported five consecutive quarterly profits. Now that Tesla has its eye on other markets, such as Asia and Europe, it is likely that we will see major investments from legacy automakers in the growing electric vehicle industry sooner rather than later.