Tesla scores a grand first quarter despite no Model S/X production

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Tesla, Inc. (TSLA) hits another record quarter production and delivery numbers in Q1 2021 despite there was no new Model S or Model X vehicles produced.

The U.S.-based electric automaker revealed its first-quarter vehicle production and delivery numbers yesterday via its investor relations website.

Q1 is usually a slow quarter in the automotive industry. If Tesla can score a historical number of sales in Q1 2021, this might mean the rest of the year is going to get better with each quarter.

Delivering almost 185k cars without Model S and Model X in the mix, Tesla has emerged stronger at the start of this year. The following table shows the exact number of car production and deliveries

Table: Tesla Q1 2021 Production and Deliveries

ProductionDeliveries
Model S/X2,020
Model 3/Y180,338182,780
Total180,338184,800
Data source: Tesla, Inc. investor relations website. *Total 7% vehicles subject to lease accounting.
Tesla Model Y Accessories by EVANNEX (Sponsored Banner).
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A sizeable chunk of this success comes from the warm welcome of Tesla Model Y in China. “We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity,” Tesla stated.

Recently, while addressing Tesla employees on a company-wide call, CEO Elon Musk said that Gigafactory Shanghai is going to play a big role in the company’s growth this year. With the help of Giga Berlin and Giga Austin, Tesla will be hitting 1 million vehicle production in 2021, Musk further said.

Made-in-China Tesla Model Y electric SUV.
Made-in-China Tesla Model Y electric SUV. Image: Courtesy of Tesla, Inc. China / Twitter.
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Tesla’s Q1 2021 deliveries have stunned the Wallstreet analysts who were estimating the numbers to be around 160,000 vehicles. Even Bloomberg estimated a figure of around 169,000 cars.

“The quarter was a massive home run in the eyes of the bulls. We believe China and Europe were particularly robust this quarter as the trajectory now puts Musk & Co. to exceed 850k for the year which is well ahead of whisper expectations,” noted Dan Ives of Wedbush, reported by Bloomberg.

Tesla is preparing to start the 2021 Model S and Model X design refresh deliveries as soon as possible, “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,” the automaker stated.

Related: Tesla Q4 and 2020 overview | Q4 2020 Earnings Call

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Featured Image: Courtesy of Tesla, Inc.

Iqtidar Ali
Iqtidar Alihttp://www.teslaoracle.com
Iqtidar has been writing about Tesla, Elon Musk, and EVs for more than 3 years on XAutoWorld.com, many of his articles have been republished on CleanTechnica and InsideEVs, maintains a healthy relationship with the Tesla community across the Social Media sphere. You can reach him on Twitter @IqtidarAlii

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