Tesla's 2020 Delivery Milestone Is Irrelevant for Investors
Tesla (NASDAQ: TSLA) didn't quite reach its goal of delivering 500,000 vehicles in 2020, but it might as well have. On Saturday, the electric vehicle pioneer reported that it delivered approximately 180,570 vehicles last quarter, bringing its full-year total to roughly 499,550. That represents a 36% year-over-year increase compared to the 367,656 vehicles Tesla delivered in 2019.
However, many investors tend to ascribe too much importance to Tesla's quarterly and annual delivery results. At this point in the company's growth trajectory, the level of growth in any particular year is irrelevant to determining whether Tesla is a good stock to own.
A year ago, Tesla projected that it would easily surpass its goal of delivering 500,000 vehicles in 2020. The COVID-19 pandemic complicated matters, though. Tesla was forced to suspend production at its main factory in Fremont, California, for nearly two months this spring due to a local stay-at-home order.
Source Fool.com
