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Tesla Will Sell 50% More Cars in 2021 Than Last Year, Says Wall Street

Despite falling a little short of Elon Musk’s sales target for 2020, various Wall Street analysts now believe that Tesla will deliver at least 50% more cars this year than it did in the past 12 months.
Tesla line-up 6 photos
Photo: Tesla
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Some estimates have this year’s number at anywhere between 750,000 and 850,000 units, well clear of last year’s 499,550 vehicles, as per Refinitiv data. Had they managed to sell another 450 cars, they would have hit Musk’s target for 2020.

During the company’s Q3 earnings call in 2020, Musk was asked whether Tesla could deliver between 840,000 to 1 million vehicles in 2021, to which he replied that their goals are indeed “in that vicinity,” Reuters reports. That’s not to say that we now have a concrete delivery goal for Tesla in 2021, but doubling last year’s volume could be possible.

“Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. In some years we may grow faster, which we expect to be the case in 2021,” said the EV-maker.

Still, according to J.P Morgan analysts, Tesla will sell roughly 765,000 cars in 2021, up from their initial estimation of 715,000. Credit Suisse meanwhile is more optimistic, anticipating 853,000 Teslas reaching new owners this year.

“We wonder if Tesla is simply setting a lower bar, so as to better manage expectations,” said the Swiss firm in a note.

After a staggering 743% shares growth in 2020, Tesla became the world’s most valuable carmaker, with an estimated market cap of roughly $650 billion. Elon Musk meanwhile surpassed Jeff Bezos as the world’s richest man, with a net worth of just over $185 billion.

It's almost baffling to think that he started last year being worth “just” $27 billion, barely a member of the world’s top 50 richest people club. Also, at one point, Musk was willing to sell his company to Apple for $60 billion, something he surely would have regretted doing right about now.
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About the author: Sergiu Tudose
Sergiu Tudose profile photo

Sergiu got to experience both American and European car "scenes" at an early age (his father drove a Ford Fiesta XR2 supermini in the 80s). After spending over 15 years at local and international auto publications, he's starting to appreciate comfort behind the wheel more than raw power and acceleration.
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