Tesla ‘rushed’ expectations of analysts, the number of vehicles delivered in the first quarter exploded

Recently, Tesla said it delivered 184,800 vehicles and produced 180,338 vehicles in the first quarter of 2020. Meanwhile, analysts predict the company will deliver about 168,000 vehicles during this period, according to estimates compiled by FactSet as of April 1. All electric cars that the manufacturer makes are Model 3 and Model Y crossovers, although they also deliver 2,020 Model S and Model X cars.

Tesla operations in the past quarter were affected by a fire at the plant in Fremont (California). In addition, the factory was temporarily closed due to the shortage of chips in the industry, lack of components, capacity problems and the impact of the Covid-19 epidemic.

In the same period last year – when the pandemic spread around the world, Tesla built 102,672 vehicles and delivered 88,400 vehicles. Production of the Model Y crossover SUV was stepped up in January last year, and the number of vehicles delivered increased sharply in March 2020.

At the time, Model 3 and Model Y accounted for about 86% of all Tesla deliveries. The addition of Model Y to the list of production at the factory in Shanghai has helped billionaire Elon Musk’s company increase sales by about 36% by 2020 compared to 2019.

In the latest financial report, CFO Zachary Kirkhorn said: ” In 2021, specifically in the first quarter, our number of vehicles delivered increased due to Model Y production in Shanghai. Model S and Model X levels will be low due to the transition to newly restructured products . ”

At the 2020 annual shareholder meeting, Elon Musk said he expects the number of delivered vehicles to reach 477,750 to 514,500 this year. By the end of 2020, Tesla delivered 499,550 vehicles – the highest number ever for the electric car company. Neither Musk nor Kirkhorn released forecasts on the number of vehicles delivered in 2020 and said it would be more clear in the second quarter.

In the near future, fans and critics will keep an eye on whether new electric cars come to market, Tesla’s lead will be affected or sales will rise higher as consumers. Used to stop using internal and hybrid combustion engines.

On March 29, Jefferies lowered its stock target price of Tesla from $ 775 to $ 700. Analyst Philippe Houchois wrote in a note: ” Tesla is still growing at a two-digit rate. However, they no longer have a unique position as the first electric vehicle manufacturer with access to capital. Some of the advantages start to fade, but will come slowly. Tesla still leads in many areas, from software to design to manufacturing, speed and direct sales . ”