Tesla has reported that it delivered 184,800 electric vehicles and produced 180,338 cars in the first quarter of 2021 even though analysts were expecting the company to deliver around 168,000 vehicles during this period, according to estimates compiled by FactSet as of April 1.
It was a record-beating quarter, topping the 180,570 deliveries the company recorded in the fourth quarter of last year.
As a result, Tesla shares jumped more than 6% at the opening bell on Monday, as investors increased production and delivery figures that broadly exceeded expectations.
The figures also represent a 75.6% growth in the number of cars manufactured and a 109% increase in deliveries compared to the first quarter of the previous year (Tesla announced 102,672 cars manufactured and 88,400 delivered in Q1 2020).
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In the statement by the company, they claim to be “proud” by the great reception of the Model Y in China. The new Model S and Model X have also been well received, according to the manufacturer, although during this quarter, units of the new Model S and Model X have not been delivered to customers.
A filing in February showed that Tesla’s sales in China more than doubled last year amid the coronavirus pandemic. The electric car maker’s sales in China came in at $6.66 billion — around a fifth of the company’s $31.54 billion revenues.
Written by | Gabriel Sayago