Tesla which sold more cars in Q4, 2020, has been on the news regularly in recent months for the company’s impressive performance in 2020 and its founder Elon Musk early this year became the world’s richest man.
According to data presented by TradingPlatforms, Tesla sold 30% more cars in Q4 of 2020 compared to Q3, for a quarterly total of over 180K cars.
Tesla Has Broken Through the Mainstream
Tesla’s Q4 car production and delivery have cemented Tesla’s place in the mainstream. In Q4 of 2020, Tesla delivered 180,600 units and produced just under that same number. In terms of deliveries that is a 30% Quarter on Quarter (QoQ) increase and a more than 70% Year on Year (YoY) increase. Production levels increased similarly with the total number of cars produced in Q4 a 24% QoQ increase and over 70% YoY increase.
In 2020, Tesla also led the world in plug-in electric vehicle sales with an estimated 499,535 units sold more than doubling the next highest on the list, Volkswagen. This allowed Tesla to take the largest share of the plug-in electric vehicle market with 17.95%. Volkswagen was the only other producer that had a double-digit share of the market with 12.6%.
Tesla Shares Plunge Again, Falls By 6%
BizWatch Nigeria reported that Tesla suffered a decline in its shares by 6 percent this week, after riding high for over a year.
The company’s shares depreciated by 6 percent following the 8.5 percent it recorded on February 22, 2021.
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BizWatch Nigeria also reported that Tesla’s market cap last year increased by over $500 million Year-To-Date (YTD). Tesla achieved swift growth in market value and stock price in 2020.
Tesla’s Path to Mass Market Production
Tesla’s journey as a company began in 2003 but it was not until 2008 that the company began production of its first vehicle, the Tesla Roadster. The Roadster was of the premium sports car category which Musk accepted as the needed entry point for Tesla’s electric car business before he could proceed to his main goal of breaking through the mainstream.
With its next two vehicle models, the luxury Sedan Model S and the luxury SUV Model X, Tesla started really making waves in the automotive world. Not only did the Model S become the best-selling plug-in electric car globally for the years 2015 and 2016, Tesla was doing so while also bagging numerous automotive awards.
In 2017 Tesla began selling its fourth vehicle, the Tesla Model 3 which was the first Tesla car truly meant for the mass market. In 2020, the Model 3 was the best selling plug-in electric vehicle model worldwide, with more than three times the amount sold of 2nd placed Wuling HongGuang Mini EV.
