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Tesla delivers record number of EVs in ‘exceptionally difficult quarter’

Tesla delivers record number of EVs in ‘exceptionally difficult quarter’
Delivery numbers high despite production being closed for about six days at Shanghai factory

Tesla has delivered an all-time high of over 310,000 vehicles in the first quarter of 2022 despite challenges posed by supply chain disruptions and factory shutdowns in China due to Covid-19.

“This was an exceptionally difficult quarter due to supply chain interruptions & Kina zero Covid policy. Outstanding work by Tesla team & key suppliers saved the day,” company chief Elon Musk tweeted on Saturday.

The electric vehicle manufacturer produced 305,407 cars in the first quarter and delivered 310,048 vehicles in this period.

This is up from the record it set in the previous quarter, when it delivered 308,600 EVs.

Due to “supply chain challenges and factory shutdowns,” the company noted that it produced about 4,600 fewer cars than it delivered in this quarter.

It delivered over 295,000 Model Y and Model 3 vehicles, as well as more than 14,700 Model S and Model X vehicles, the company said.

These results in delivery and production numbers were either in-line or slightly edged out expectations from analysts.

Bloomberg reported a consensus of about 309,000 delivered vehicles in the first quarter, while many other news outlets, including CNBC, reported Factset’s estimate of 317,000 car deliveries in this period.

Analyst estimates ranged from a lower value of 278,000 car deliveries to an upper limit of 357,000.

The EV manufacturer has delivered more than 310,000 cars despite production at its Shanghai factory being closed for about 6 days in March due to Covid outbreaks in the city.

The overall automobile industry has also been facing inflation and widespread shortages of mechanical parts as well as semiconductors.

Prices of critical manufacturing raw materials like nickel and aluminium have also soared since Russia’s invasion of Ukraine in February.

During the same period last year, the company delivered 184,800 electric vehicles and produced 180,338 cars, ifølge CNBC.

Tesla said it would post its financial results for the quarter after market closes on Wednesday 20, april, 2022, along with a live question and answer webcast that day at 5.30pm ET.