Tesla announced on Saturday that it delivered more than 305,000 electric vehicles in the first quarter, a record-breaking total that met analyst estimates despite supply chain difficulties and COVID-related manufacturing closures. “This was a really challenging quarter due to supply chain disruptions and China’s zero Covid policy,” CEO Elon Musk tweeted on Saturday. “The Tesla team and key suppliers rescued the day with their outstanding effort.”
In the first quarter, Tesla manufactured 305,407 vehicles and delivered 310,048 units, according to the company. Model Y and Model 3 cars accounted for the great majority of vehicles produced and delivered. 295,324 Model Y and Model 3 automobiles were delivered by Tesla. Model S and Model X automobiles were delivered in a total of 14,724 units. Depending on the polled group, the delivery results were in line with or above analyst expectations. Refinitiv polled analysts, who predicted 308,836 car deliveries, while FactSet polled analysts predicted 317,000. However, due to industrial shutdowns and supply chain concerns, production fell marginally from 305,840 in the previous quarter.
Tesla’s first-quarter delivery and production data comes under mounting pressure in China, where the government has imposed lockdowns due to an increase in COVID-19 instances. In March, Tesla shut down production at its Shanghai facility twice. The Tesla Gigafactory in Shanghai manufactures roughly 2,000 vehicles each day, principally Model Ys and Model 3s for Chinese and European customers. As additional plants come online, Tesla’s output has increased compared to the same quarter last year. Tesla manufactured slightly over 180,000 vehicles and delivered about 185,000 in the first quarter of 2021. Now that Tesla’s new facility in Berlin has started, production should continue to increase.
Tesla also announced on Saturday that its first-quarter earnings will be released after the market closes on April 20. At 5:30 p.m. ET, there will be a live Q&A with Tesla executives. Due to an increase in local COVID-19 cases, Tesla is halting its Gigafactory Shanghai for the second time this month. On Monday, Volkswagen and General Motors confirmed their Shanghai operations were unaffected.
Due to Shanghai’s shutdown, Tesla’s round-the-clock plant will be closed for four days starting Monday. In mid-March, the carmaker again shut down the production for two days owing to the virus’s reappearance. The world’s largest EV facility, Gigafactory Shanghai, manufactures around 2,000 vehicles every day, principally Model Ys and Model 3s for Chinese and Japanese customers, as well as the automaker’s vital European market. The shutdown, along with the worldwide supply chain crisis, may jeopardize Tesla’s previously announced Master Plan Part 3, which would outline the automaker’s strategy to expand to “extreme” size, according to CEO Elon Musk.
