Tesla supplies 310,048 electric cars in the first quarter
Key takeaways:
- Tesla delivered 310,048 electric cars in the first quarter of 2022.
- Deliveries are the closest approximation to sales numerals noted by Tesla.
- After an uneven beginning to 2022, Tesla shares are now up for the year as of Thursday's close.
Tesla just reported first-quarter vehicle production and delivery numerals for 2022.
Here's how they did.
Electric vehicle deliveries (total): 310,048
Electric vehicle production (total): 305,407
Over the same time last year, Tesla supplied 184,800 electric cars and produced 180,338 vehicles.
According to Tesla, Model 3 and Model Y cars included 95%, or 295,324, of deliveries in the first quarter of 2022.
The firm produced 4,641 fewer vehicles than it delivered during the quarter, noting "ongoing supply chain challenges and factory closedowns."
Analysts anticipated deliveries of 317,000 cars for the first three months of 2022, according to estimates from FactSet as of March 31. The estimates varied from a low of 278,000 vehicle deliveries to a high of 357,000.
Deliveries are the nearest approximation to sales numbers noted by Tesla.
The firm just opened a new factory in Brandenburg, Germany, and had a ribbon-cutting ceremony on March 22. Tesla also intends to host a grand opening and "cyber rodeo" event on April 7 at another new car assembly plant it's building in Austin, Texas.
Tesla officially shifted its headquarters to Austin as of December 1 but still uses its first electric vehicle factory in Fremont, California.
During the quarter, which finished March 31, Tesla's operations were considered down by a Covid wave and new health limitations in China, demanding temporary production breaks at its Shanghai plant. In the fourth quarter, Tesla delivered 308,600 EVs, marking a record for the firm.
Along with the remainder of the auto industry, Tesla has also been hurt by widespread parts shortages and inflation.