Tesla started 2022 with another resilient performance in the face of serious global supply and logistical challenges, although it was still lower than Wall Street’s most bullish forecast, according to vehicle supply figures released on Saturday.
US electric car makers say they delivered 310,048 new cars in the first three months of the year, slightly ahead of the number delivered to consumers in the last quarter of 2021 and about 68 percent higher in the early months of last year.
The company also backed the recent trend, with the world’s largest carmakers reporting lower sales due to supply shortages, with General Motors dropping 20 per cent year-on-year in US sales and Toyota 14 per cent in the first quarter.
“It was an exceptionally difficult quarter due to supply chain disruptions and China’s zero-sum policy,” said Elon Musk, chief executive of Tesla. Tweet On saturday.
“The outstanding work of the Tesla team and the original suppliers saved the day.”
According to analysts surveyed by Refinitiv, Wall Street expected less than 309,000 Tesla deliveries, although other estimates expected 315,000 or more.
The news comes after a three-week bounce that pushed Tesla shares up more than 40 percent, last week the news that it was planning a second stock split in two years.
Tesla’s Shanghai plant, which became its largest producer from its original Fremont plant in California last year, was closed for the last days of the quarter as the city responded to the spread of the Covid-19 case. Nevertheless, the 305,407 vehicles produced in the quarter are still only 400 less than in the previous three months.
Like other car manufacturers, Tesla has faced stiff supply of chips and other parts, which presented a special challenge during the period of massive expansion. With its new plant in Berlin starting earlier this year and another in Texas starting soon, Wall Street expects car supplies to grow by more than 50 percent this year to 1.5 million.
The company’s growing demand for Model 3 and Y is based on its latest sales numbers, which accounted for 295,324 deliveries.
However, the continued sluggish sales of its high-priced S and X, including delays in launching its electric pick-up, have warned some analysts that the company may be overly dependent on just two models as more customers consider buying. Electric car for the first time.