Analysts’ forecasts for the implementation of the annual sales target of 500 thousand cars!
The share price of Tesla, an American electric vehicle manufacturer, has been growing steadily since the beginning of November when the S&P Dow Jones Indices Committee announced its intention to include Elon Musk’s company in the S&P 500 rating. Musk rushed to the next significant milestone – $ 700 per security (do not forget about the August split in a ratio of five to one).
At the close of trading on the NASDAQ exchange on December 30, one Tesla share’s price reached $ 694.78 (4.32% higher than in the previous exchange session). The company’s capitalization was $ 658.58 billion. With a high probability, after opening a new session on December 31, Tesla’s share price will cross the $ 700 mark for the first time.
Everything indicates that Tesla delivered 182 thousand cars to customers in the quarter – this is significantly higher than the previous record of 139 300 cars – and fulfilled the annual plan of 500 thousand units (in 2019, the result was 367 500 cars). In fairness, the company originally planned to achieve this goal in 2020. But the dynamics are impressive anyway – a visual representation of how Tesla car sales have grown since 2008 is given in the animation below.
– James Stephenson (@ICannot_Enough) October 17, 2020
Wedbush Securities analyst Dan Ives estimates that Tesla delivered 190,000 to 200,000 cars to customers in the fourth quarter of 2020.
Earlier this month, the investment bank Goldman Sachs raised its forecast for Tesla shares from $ 455 to $ 780 per share and at the same time predicted that the company would reach a sales volume of 20 million cars by 2040. At the same time, Elon Musk previously cautiously suggested that by 2030 Tesla will reach 20 million cars. As for closer prospects, even at the beginning of the year, the head of Tesla admitted that by the end of 2021, the company would produce 1 million cars.
In October, for the fifth consecutive quarter of 2020 earnings, Tesla shared photos in the report indicating the near completion of the second phase of the Gigafactory 3, intended for the Model Y. And, judging by the latest reports, the release of Model Y crossovers at Gigafactory 3 in Shanghai is already underway. The total capacity of both existing Tesla plants already now is 840 thousand cars. Earlier, the capacity of the Phase 2 line for assembling Model Y would be 100 thousand per year. That is, Tesla is on the verge of reaching production volumes of 1 million vehicles per year, and the company planned to achieve this goal just in 2020. One of the examples when Elon Musk gave an accurate assessment.
In the coming week, Tesla will publish a report on the supply of electric vehicles for the fourth quarter of 2020, and then everything will be finally clear. The full financial report, as usual, will not be released until the end of January. But already now, there is almost no doubt that 2020 will be the first profitable year in Tesla history.
- In the Tesla lineup, there are now four-passenger cars (Model S, Model X, Model 3, and Model Y) and four more already announced new items are on the way – the Roadster 2 sports car, the Tesla Semi tractor, the Cybertruck armored pickup truck and the electric ATV that complements it. All of them should enter the market next year.
- Today Tesla has three Gigafactory plants and another plant in Fremont (Tesla bought it from Toyota and GM at one time), which produces cars and lithium-ion batteries for these very cars and energy storage systems.
- The construction of Tesla’s Gigafactory 4 in Europe in Brandenburg, Germany, and the new American Gigafactory 5 in Texas progresses rapidly. The Gigafactory 4 plant should start working already in 2021 (first, the Model Y assembly line will be introduced, and then the Model 3 production will begin). Gigafactory 5 will produce Cybertruck, Model Y crossovers and Model 3 sedans for the US East Coast, and Tesla Semi trucks. The Model Y line at Gigafactory 5 should also be operational in 2021.