Tesla, Inc. (TSLA) has once again kept its winning streak of delivering more cars than the previous quarter for the 7th time in a row. The Austin, TX-based electric automaker delivered 310,048 Tesla Model S, 3, X, and Y cars in Q1 2022.
The first-quarter production numbers went slightly down compared to Q4 2021 because of the closure of Gigafactory Shanghai for the last few days of March due to COVID restrictions in the Chinese city. Tesla produced 305,407 cars in Q1 2022 vs. 305,840 in Q4 2021 (that’s 433 cars less or down by -0.141%).
Difficulties in ramping up production in Q1 2022 also include supply chain issues as the global chip shortage hasn’t yet been totally phased out. Elon Musk said that these difficulties made Tesla’s first quarter “exceptionally difficult” this year.
Despite these difficulties, Tesla was able to deliver 1,488 more vehicles in Q1 2022 compared to the previous quarter (Q4 2021). Generally in the automotive industry, the first quarter is the slowest in terms of sales but Tesla has even disrupted this trend.
Tesla has also announced the company’s Q1 2022 Earnings Call date which is Wednesday 20th April 2022. This date is particularly interesting if we look closely, the date is the 20th day of the 4th month which can be easily decoded to 420, a reference to Elon Musk’s 420 take-private tweet and the following SEC lawsuit.
Tesla will post its financial results for the first quarter of 2022 after market close on Wednesday, April 20, 2022. At that time, Tesla will issue a brief advisory containing a link to the Q1 2022 update, which will be available on Tesla’s Investor Relations website. Tesla management will hold a live question and answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook.Tesla investor relations website.
|Production||Deliveries||Subject to |
operating lease accounting
If we compare Tesla’s production and delivery figures year-over-year (YoY) with Q1 2021, the automaker has made a huge leap. Tesla only made 180,338 cars in Q1 2021 and 305,407 — gained vehicle production capacity of more than 69% in just a year.
In terms of deliveries, Tesla also grew by more than 67% comparing the first quarter of 2022 to the previous year. Tesla delivered 184,800 cars in Q1 2021 which looks like a small number when we look at Q1 2022 deliveries of 310,048.
Tesla started delivering Model Y electric SUVs from Giga Berlin on 22nd March and is now even exporting these to other European countries as well. So, Giga Berlin has also contributed some numbers to Tesla vehicle deliveries this quarter.
But the exact number of vehicles delivered from Giga Berlin is not yet disclosed by the automaker nor is the daily production rate at the factory. Perhaps, these figures will be released during the Q1 2022 Earnings Call on 20th April.
Tesla Model S and Model X deliveries have gained some momentum this quarter. Tesla delivered 11,750 Model S/X in Q4 2021 vs. 14,724 in Q1 2022 (an increase of ~25%).
Finally, Rob Maurer, who is our favorite host of the Tesla Daily podcast, has some views and analysis of his own on Tesla Q1 2022 vehicle production and delivery numbers, let’s watch.