MarketWatch
Tesla delivered 184,800 vehicles in Q1, blowing past estimates
Tesla Inc. said Friday that first-quarter deliveries, its proxy for sales, totaled 184,800 vehicles in the first quarter, beating the FactSet consensus of 168,000. The electric vehicle company said deliveries of its Model 3 sedans and Model Y compact SUVs came to 180,338. The FactSet consensus was for 122,600 Model 3s and about 10,000 Model Ys. “We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity,” the company said in a statement. “The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.” When the company reported fourth-quarter earnings in January, it said it planned to grow its manufacturing capacity “as quickly as possible,” and, as far as deliveries, it said it expects to reach a 50% average annual growth over a “multiyear horizon.” The stock market was closed Friday, but Tesla shares are down 6.2% in the year to date, while the S&P 500 has gained 7%. The stock remains up a stunning 628% in the last 12 months.
