Tesla reported Saturday that it delivered greater than 305,000 electrical autos within the first quarter, a record-breaking determine that was inline with analyst expectations whilst manufacturing suffered because of provide chain constraints and COVID-related manufacturing facility shutdowns.
“This was an exceptionally tough quarter because of provide chain interruptions & China zero Covid coverage,” CEO Elon Musk tweeted Saturday. “Excellent work by Tesla group & key suppliers saved the day.”
Tesla reported that it produced 305,407 vehicles and delivered 310,048 autos within the first quarter. The overwhelming majority of autos produced and delivered had been Mannequin Y and Mannequin 3 autos. Tesla delivered 295,324 Mannequin Y and Mannequin 3 autos. It delivered 14,724 Mannequin S and Mannequin X autos.
The supply figures had been in line or beat analysts expectation relying on the polled group. Analysts surveyed by Refinitiv confirmed expectations of 308,836 automobile deliveries whereas these polled by Factset anticipated 317,000. Nonetheless, manufacturing was down barely from 305,840 within the earlier quarter because of manufacturing facility shutdowns and provide chain points.
Tesla’s first-quarter supply and manufacturing report comes amid growing stress in China the place a surge in COVID-19 circumstances has prompted the federal government to subject lockdowns . Tesla idled manufacturing at its manufacturing facility Shanghai twice in March. Tesla’s Gigafactory Shanghai produces about 2,000 autos every day, principally Mannequin Ys and Mannequin 3s for Chinese language shoppers and the European market.
Tesla has managed scaled its manufacturing in comparison with the identical quarter final 12 months as new factories come on-line. Within the first quarter of 2021, Tesla produced simply over 180,000 autos and delivered practically 185,000 autos. Manufacturing ought to proceed to ramp now that Tesla’s new manufacturing facility in Berlin has opened.
Tesla additionally mentioned Saturday that it’ll report first-quarter earnings April 20 after market closes. A dwell Q&A with Tesla administration will observe at 5:30 pm ET.
