Tesla has reported sales for the first quarter of 2021. They turned out to be higher than expected
Tesla on Friday reported higher-than-expected sales of electric vehicles in the first three months of 2021, despite supply bottlenecks. In the first quarter, the American automaker delivered 184,800 electric cars to the market, beating Wall Street analysts’ forecasts. 182,780 Model 3 and Model Y electric vehicles were sold, and 2020 units of the more expensive Model S and Model X.
In its report, Tesla also noted the increased demand for Model Y electric vehicles in China. The manufacturer said it would accelerate the production of updated versions of the Model X and Model S. Before the stock exchange opened on Friday, the company’s shares slipped slightly by about 0.5%. A day earlier, the decline was about 1%, writes Business Insider.
Analysts generally expected Tesla to continue ramping up production in the last three months of 2020, which resulted in 499,550 electric vehicles delivered. According to the consensus forecast, the American manufacturer delivered 173,800 cars in the fourth quarter of last year. However, according to the company itself, the total production was 180,338 electric vehicles.
Tesla, like every other global automaker, faced a semiconductor shortage. In January, the company’s CFO, Zach Kirkhorn, warned that chip supply problems could affect the first-quarter results.
In February, the company temporarily suspended production at its Fremont, California facility. The head of the company, Elon Musk, explained the stop by “lack of spare parts.” Many automakers face similar challenges today, as the shortage of chips used in cars is increasing.
According to Wall Street forecasts, Tesla will sell more than 800,000 electric vehicles in 2021. Achievement of such an indicator will allow the launch of new factories in Texas and Germany. Wedbush Securities analyst Daniel Ives is even more optimistic. In his opinion, the growth in demand for electric vehicles in the world throughout 2021 will allow Tesla to sell more than 850 thousand of its electric cars.
