Tesla wraps 2020 with record profits

Tesla had a perfect 2020, in which it recorded record profits. As in the three previous quarters, the firm recorded higher results during the last three months of 2020.

Despite the Covid-19 pandemic, which hit all markets, Tesla did not falter in 2020. In particular thanks to the distance selling of its models, the brand of Elon Musk has managed to profit. The complete shutdown of activities during the containment of March 2020 had only a very limited impact for the manufacturer.

At the start of the year, Elon Musk became the richest man in the world thanks to Tesla’s soaring value. The firm has a market capitalization of nearly 700 billion euros. The value of Tesla shares on the stock market rose 720% last year. And the results recorded in 2020 make it possible to understand this take-off.

Strong growth in turnover and value

Tesla posted a net profit of $ 721 million in 2020, or € 595 million. This is the first year that this figure has gone green. The brand’s turnover exploded to $ 31.5 billion for the year. This constitutes an increase of 28% compared to the turnover of 2019. The progression of the last quarter is particularly dazzling (46%) with a turnover of 10.7 billion.

Finally, Tesla also confirmed that it sold 499,550 cars in 2020. While the automaker narrowly falls short on the half-million target, this achievement is behind the impressive results.


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