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
Author of more than 1500 articles on Tesla, SpaceX, and EVs. His work has been liked and tweeted by Elon Musk and other prominent influencers. You can reach him on Twitter @IqtidarAlii

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