6. TESLA MAKES FIRST BUCK

Tesla finally turned its rampant sales expansion into a profit in 2020, marking a key milestone in the US company’s 12-year car-making history.

Sales in China grew spectacularly by 226 percent as local production began and the Model 3 broke through the 300,000 barrier worldwide. Nevertheless, last year proved to be also challenging for Tesla. The older and pricier Model S sedan and Model X SUV both lost sales in a growing segment; the Model 3 lost leadership of the European market to the Renault Zoe; and the brand’s European market share actually started to fall slightly.

Looking ahead, competition will only get tougher for Tesla as more brands electrify. This stepped up a gear in 2020 with the PSA Group and the Volkswagen Group starting their EV offensives, and, as Kia and Hyundai join in soon, the pressure on Tesla intensifies.