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Friday, 02 April 2021 21:15

Tesla Sets New Record with 184K Vehicle Deliveries in Q1 2021

Written by Simon Alvarez, Teslarati

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Tesla has released its first quarter vehicle production and delivery report, revealing the company has achieved yet another record Q1.

Over the course of the first quarter, Tesla was able to produce a total of 180,338 vehicles and deliver a total of 184,800 cars.

 

As noted in a press release, Tesla produced no Model S or Model X during the first quarter, though it was able to sell 2,020 units of the flagship sedan and SUV until the end of March 2021.

 

Tesla’s Model 3 and Model Y more than made up for the lack of Model S and Model X, however, with the company producing 180,338 units and delivering a total of 182,780 during the quarter.

 

With such figures, Tesla has beaten Wall Street’s estimates. In the days leading up to the release of its Q1 2021 vehicle production and delivery report, analysts surveyed by FactSet estimated Tesla would deliver about 162,000 vehicles in the first quarter. Even Tesla bulls such as Gene Munster of Loup Ventures and Pierre Ferragu of New Street Research had estimates in the same range.

 

Part of the reason behind Tesla’s strong numbers in the first quarter could be Gigafactory Shanghai, which is currently ramping the production of the Made-in-China Model Y. As noted by Tesla in its announcement, the Model Y is seeing some strong support in the local Chinese market, and the vehicle is still being ramped.

 

Over the rest of the year, it would not be surprising if the Made-in-China Model Y, and Giga Shanghai for that matter, play a larger role in Tesla’s overall numbers.

 

We thank Teslarati for reprint permission. 

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