Tesla's 2021 numbers are in and they continue to defy expectations
Analysts say Tesla could sell as many as 850,000 vehicles in 2021 if the trend continues
Tesla is one of the few brands that managed to grow in terms of sales in 2020, despite the pandemic, having delivered 499,550 vehicles, just 450 cars shy of the proposed target of 500,000, and while other auto makers are still struggling, Tesla is still overperforming, with over 184,000 vehicles delivered in Q1 2021.
Market analysts underestimated Tesla as they initially predicted the company would deliver fewer than 180,000 vehicles which, by the way, is actually more or less the same amount of cars they sold in Q1 2020 (180,570), even though Tesla had to halt production for longer than other car makers because Alameda County, where the factory is located, maintained lockdown measures in place even after California reopened.
Wedbush analyst Dan Ives believes Tesla's upward trend is unlikely to stop because the "eye-popping delivery numbers coming out of China cannot be ignored". Furthermore, Ives believes the brand could gain even more pace thanks to Biden administration's newly-announced plan to increase EV sales thanks to incentives and subsidies.
China will continue to be a major market for the 3 and the Y, while Tesla is still building the Berlin Gigafactory and the Texas Gigafactory (in Austin) to meet demand from US and European customers.