Tesla delivers strong Q1 sales report

Tesla Inc. delivered 184,800 cars worldwide in the first quarter of 2021, up from about 88,400 in the first three months of 2020.

“We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity,” the electric vehicle maker said in a statement Friday. The new Model S and Model X have also been “exceptionally well received,” it said, adding that it’s in the early stages of ramping up production.

Tesla currently makes the Model S and X only at its factory in Fremont, Calif., and the smaller Model 3 and Y both there and at its plant in Shanghai. The company doesn’t break out sales by geography, but the U.S. and China are its largest markets and the bulk of sales were of the Model 3 and Y.

The Palo Alto, Calif., company recently refreshed the Model S sedan and the X crossover. CFO Zachary Kirkhorn warned in January that production would be low due to the transition to the revamped products. The global semiconductor shortage and delays at ports also weighed on the quarter.

Tesla said its delivery count should be viewed as slightly conservative and final numbers could vary by as much as 0.5 percent or more.

The quarterly delivery figure is widely seen as a barometer of demand for both Tesla’s vehicles and consumer interest in electric vehicles worldwide as legacy automakers roll out electric cars of their own. After a remarkable run in 2020, Tesla’s shares are down roughly 6 percent this year.

Automotive News contributed to this report.

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