Tesla, with yearly sales of $28 billion, has reached a value greater than the ten biggest carmakers in the world, who have combined sales of over $1.3 trillion.
Tesla Inc. (TSLA) shares hit another jaw-dropping high this Monday as traders and investors reacted to the carmaker’s record delivery of almost 500,000 vehicles last year.
Tesla shipped right under 181K cars during Q3 of 2020, which is a 61.2% increase from that same time last year. This number brings its yearly number to 499,550, just under Elon Musk’s 500,000 goal. While the company’s year-end production was right under 510K vehicles.
“With Tesla ending the year at 180K sales, and with output from their Shanghai facility increasing and the Berlin location starting production, we are somewhat shocked that the anticipated outlook for this year is just 784K units,” stated Joseph Osha, an analyst for JMP Securities . “Our current estimate is 841K, and from what we see from the fourth quarter’s numbers, we would anticipate the 2021 forecasts to increase.”
“We think that Tesla sales in America could benefit Biden’s policies, potentially giving tax credits to EV buyers,” he said. “The one worry we do have is the Chinese market and the friction between the U.S. and Chinese governments.”
Tesla shares popped 5% higher in early trading on Monday to $743.76, an all-time high putting the company’s value at $702.9 billion, greater than the whole market cap of the world’s ten biggest carmakers by volume, including Volkswagen AG VLKAY, Toyota Motor Co. (TM), General Motors (GM) and Ford Motor Co. (F)
Tesla ended Thursday December 31 at $705.67 per share. Which was an all-time high that brought its year-to-date gain to an amazing 743.4%.
The company said it sold 442,511 Model 3/Ys over the year, with 57,039 Model S/X cars also being shipped. Production figures were marked at 454,932 and 54,805 units.
Wedbush’s Dan Ives stated that the 500,000 delivery number was “not even seen as possible back in spring and summer,” and forecasts of sales as large as 710,000 for 2021, a 40% growth, would “put Tesla on the path to strong growth into 2022.”
“Obviously, competition is growing, with local players in Europe and China getting more efficient and companies in the US going after Tesla’s foundational EV income. And since the market is exploding, this industry will create multiple players all going for this EV goldmine,” Ives said.