Tesla delivered 310,048 vehicles in the first quarter, up slightly from the previous quarter and up 68% from a year earlier.
American EV giant Tesla reported record electric vehicle deliveries for the first quarter of 2022, largely meeting analyst estimates by delivering 310,048 vehicles. However, the company’s output fell QoQ due to supply chain disruptions as well as production shutdowns at the Chinese factory.
Tesla delivered 310,048 vehicles in the quarter, up slightly from the previous quarter and up 68% from a year earlier. The company sold a total of 295,324 Model 3 Model Y sedan and sport utility vehicle, while it delivered 14,724 units Model WILL Model X luxury sedan and premium SUV.
According to Refinitiv data, Wall Street analysts expect to deliver 308,836 cars from Tesla in the first quarter. “This was a particularly difficult quarter due to supply chain disruptions and China’s Covid policy,” CEO Elon Musk tweeted, adding, “The outstanding work of the Tesla team and key suppliers has helped save for the day.”
On the other hand, the company produced 305,407 vehicles between January and March of this year, down from 305,840 units in the previous quarter. However, the automaker has navigated the pandemic and supply chain disruption better than rivals, with its new Shanghai factory boosting growth.
In the first day of this month, Tesla has also begun deliveries at its plant in Gruenheide, Germany, and deliveries of cars produced at the plant in Austin, Texas, will begin in the near future. Musk personally oversaw the delivery of the first batch of German-made vehicles to customers at a handover ceremony held at the Berlin Gigafactory.
What’s more, the company’s shares jumped after Tesla this week revealed plans to seek investor approval to increase its holdings so that it could split. Tesla shares are up about 3% so far this year, while GM and Ford stocks have fallen.
(with input from Reuters)
Date of first publication: April 3, 2022, 03:42 PM IST