Tesla beats estimates, produces 180,338 vehicles, delivers 184,800 in first quarter of 2021

Tesla

Tesla just reported first-quarter vehicle production and delivery numbers for 2021.

In total, it delivered 184,800 vehicles and produced 180,338 cars.

Analysts were expecting Tesla to deliver around 168,000 vehicles during this period, according to estimates compiled by FactSet as of April 1.

Estimates ranged from 145,000 to 188,000 deliveries.

All of the electric vehicles it produced were Model 3 sedans and Model Y crossover SUVs, though it also delivered 2,020 Model S sedans and Model X SUVs.

Tesla’s operations during the quarter ending March 31, 2021, were impacted by a fire at its Fremont, California factory, temporary closures that CEO Elon Musk attributed to parts shortages, a broader chip shortage in the industry, port capacity issues and the ongoing pandemic.

During the same period a year ago, with the novel coronavirus spreading the world, Tesla reported it produced 102,672 vehicles and delivered 88,400 vehicles.

Production of its crossover SUV, the Tesla Model Y, had started in earnest as of January last year, with deliveries taking off in March 2020.

At that time, Model 3 and Model Y deliveries — the closest approximation to sales numbers reported by Tesla — amounted to about 86% of total deliveries.

Adding the Model Y to its menu, and production at its Shanghai plant, the first plant built outside of California, helped Tesla grow sales by about 36% in 2020 versus 2019.

At an annual shareholder meeting in 2020, CEO Elon Musk told shareholders he expected deliveries to hit an implied range between 477,750 and 514,500 cars for the year.

Tesla hit the mid-range of that window, delivering 499,550 cars for the year, its best sales volume to date.

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