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Wednesday, 27 January 2021 21:48

Tesla Releases Q4 FY 2020 Results: Record Deliveries Bring Record Profits

Written by Simon Alvarez, Teslarati

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Tesla’s fourth-quarter and full-year earnings for 2020 saw the electric car maker post $9.314 billion in revenue.

The results, which were discussed in an Update Letter, were released after the closing bell Jan. 27.

 

Tesla’s fourth-quarter was impressive, with the electric car maker producing a total of 179,757 vehicles, comprised of 16,097 Model S and Model X and 163,660 Model 3 and Model Y.

 

The company also delivered 180,570 vehicles, comprised of 161,650 Model 3 and Model Y, as well as 18,920 Model S and Model X.

 

For the full year of 2020, Tesla produced a total of 509,737 vehicles, comprised of 454,932 Model 3 and Model Y, and 54,805 Model S and Model X.

 

The electric car maker also delivered a total of 499,550 vehicles, comprised of 442,511 Model 3 and Model Y, and 57,039 Model S and Model X.

 

The following are the key points in Tesla’s Q4 FY 2020 Update Letter.

 

Revenue

 

Tesla reported a revenue of $9.314 billion for the fourth quarter. In comparison, Wall Street expected Tesla’s Q4 2020 revenue to be at $10.3 billion, while Estimize was more optimistic at $10.657 billion.

 

As per the EV maker, total revenue grew 46% year-over-year in the fourth quarter. Vehicle average selling price (ASP) also...


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