The Related Press
AUSTIN, Texas — Tesla delivered 310,000 automobiles within the first quarter, up roughly 68% from the identical interval in 2021, the corporate mentioned Saturday.
Nevertheless, the corporate’s gross sales have been barely beneath expectations, which have been searching for Tesla to supply 312,000 vehicles, in line with Wedbush Securities. However the gross sales improve got here whilst Tesla battled a worldwide scarcity of laptop chips and different components.
The Austin, Texas, maker of electrical automobiles and photo voltaic panels introduced its manufacturing and supply outcomes on Saturday. The outdated quarterly supply report of 308,600 automobiles was set only one quarter in the past, from October by way of December of 2021. Tesla delivered 185,000 automobiles within the first quarter of final 12 months.
The worldwide laptop chip scarcity has bedeviled almost all automakers, however Tesla appears to have handled the shortages higher than the remainder of the trade. Wedbush analysts mentioned they imagine 20,000 to 25,000 gross sales that might have occurred within the first quarter have now been pushed into the second quarter on account of provide and logistics points.
“We stay steadfastly bullish on the Tesla story and imagine when factoring in all of the manufacturing headwind dynamics this was a modestly bullish print,” Wedbush analysts mentioned in a notice.
Final 12 months the corporate delivered a report 936,000 automobiles, an 87% improve over 2020 numbers.
The corporate mentioned in February that it expects 50% annual development in gross sales, that means it expects about 1.4 million automobiles to be delivered this 12 months. However on a convention name with analysts, CEO Elon Musk mentioned the chip scarcity would cease the corporate from rolling out any new fashions this 12 months.
Earlier this week, Morgan Stanley analyst Adam Jonas wrote in an investor notice that he anticipated 320,000 to 325,000 deliveries from January by way of March, greater than most analysts.
“Given extraordinary provide chain pressures and Tesla’s continued important worth will increase, we imagine a path to (full 12 months) deliveries of over 1.4 million models can be spectacular, however in our minds, tough in isolation to maneuver the inventory from right here,” Jonas wrote.
Tesla shares closed Friday at $1,084.59.
The corporate opened its new manufacturing unit in Germany late within the first quarter, and final 12 months it began constructing the Mannequin Y small SUV at a brand new manufacturing unit close to Austin, Texas.