Tesla reports better-than-expected production & delivery data for Q1 2021

Tesla reports better-than-expected production & delivery data for Q1 2021

Elon Musk-led Tesla Motors recently released its EV production and delivery data for the first quarter of this year, showing that the EV pioneer is continuing to maintain its popularity and solidify its position in the market. The Palo Alto, California-based automaker not only reported record deliveries for the January to March quarter but also went way beyond that. In spite of several constraints, Tesla produced 180,338 vehicles and delivered 184,800 vehicles during the quarter under review.

Prior to the announcement of the results, many had raised doubts on the EV maker’s capability to beat its Q1 2020 deliveries of 88,000 vehicles, but a handful of industry experts had anticipated that the automaker would be able to beat its Q4 2020 record of 180,000 deliveries. The company delivered more units than it produced during the quarter, which shows that the company had some vehicles produced in the previous quarter stored in its warehouses.

The EV maker’s quarterly deliveries are up 110 per cent year-over-year and up 2 per cent quarter-over-quarter. Sharing the results, the automaker said that the strong reception of the Model Y in China in addition to strong sales of the Model S and Model X encouraged it to quickly progress to full production capacity.

In a newly published press release, Tesla said, “We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.”

Generally, automakers see a seasonal decline in sales during the year’s first quarter due to various issues. Tesla also suffered a few production issues during the quarter, which prompted some industry analysts to predict that the EV giant will not be able to break last quarter’s delivery figures.

More precisely, the company had to temporarily suspend production at its Fremont manufacturing facility for a few days because of some part supply-related issues. Additionally, it had to retool the Model S and X production lines to produce the refreshed versions of the two widely-popular EVs.

Nevertheless, the Palo Alto, California-headquartered EV pioneer posted better-than-excepted results by reporting surpassing the previous quarter in terms of production and deliveries of EVs.

Technology Update: