Tesla 2020 deliveries beat estimates, but fall short of Musk's target

Tesla 2020 deliveries beat estimates, but fall short of Musk's target

© Reuters. FILE PHOTO: CEO of Tesla Motors Elon Musk poses during a television interview after his company's initial public offering at the NASDAQ market in New York © Reuters. FILE PHOTO: CEO of Tesla Motors Elon Musk poses during a television interview after his company's initial public offering at the NASDAQ market in New York

(Reuters) – Tesla (NASDAQ:TSLA) Inc on Saturday reported better-than-expected 2020 vehicle deliveries, driven by a steady rise in electric vehicle adoption across the world's largest economies.

The company delivered 499,550 vehicles during 2020, which was above Wall Street estimates of 481,261 vehicles, according to Refinitiv data.

Annual deliveries fell slightly shy of CEO Elon Musk's target of half a million.

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