Tesla Reports its Q1 Production & Deliveries, Model Y, Model 3 Demand Remains Strong
【Summary】Tesla reported its Q1 results on Friday which beat Wall Street estimates for first-quarter deliveries. Tesla’s sales were boosted by strong demand for the Model Y. The company produced 180,338 Model 3 sedans and Model Y crossovers in Q1 and delivered 182,780 of them.
The auto industry appears to be well on its way to recovery from the pandemic with automakers reporting strong first quarter sales for 2021, including California electric vehicle pioneer Tesla.
Tesla reported its Q1 results on Friday which beat Wall Street estimates for first-quarter deliveries. Tesla's sales were boosted by strong demand for the Model Y, especially in China, which is the world's biggest auto market.
Tesla delivered 184,800 vehicles during the first quarter, above estimates of 177,822 vehicles, according to Refinitiv data. Tesla produced 179,757 vehicles in the fourth quarter of last year, so its production remains stable in the new year.
Tesla does not break down its vehicle deliveries by individual model, reported the combined sales of the Model S and X, and the combined deliveries of the Model Y and Model 3.
Tesla produced 180,338 Model 3 sedans and Model Y crossovers in Q1 and delivered 182,780 of them, which indicates that demand remains strong, especially for the Model Y, which is Tesla's newest vehicle. Deliveries of the Model Y bagan last March just as the pandemic caused a sharp decline in auto sales in the U.S.
Crossovers and compact SUVs are widely popular with consumers, so the Model Y is an important vehicle in Tesla's lineup. Demand for the Model Y has been strong, especially in China.
"We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity," Tesla said in a statement.
Model S and Model X SUV and in the process of a refresh which requires retooling at Tesla's California factory where they are built. The company did not produce any of these models in Q1, but delivered a combined total of 2,020. But according to its statement, Tesla is optimistic that the refreshed version will attract buyers, even as competition in the EV space grows.
"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," Tesla added.
Estimated delivery times for the refreshed Model S are 10 to 14 weeks, according to Tesla's website.
Italy Fines Google for Excluding the ‘JuicePass’ EV Charging App From Android Auto
Waymo CFO is Leaving the Company Following the Departure of CEO John Krafcik Last Month
Hyundai’s Shares the First Images of the G70 ‘Shooting Brake’ From its Luxury Division Genesis
The NTSB Determines That Tesla’s Autopilot Was Not Active in a Fatal Crash in Texas After Investigators Claimed ‘No One Was in the Driver’s Seat’
Tesla Engineer Tells the California DMV That Elon Musk’s Goal of Achieving Full Self-Driving by the End of 2021 Does Not ‘Match Engineering Reality’
Tesla is Developing a Platform That Allows Customers in China Access to Their Vehicle Data
Tesla to Lose Around $240 Million in Revenue in 2021 as Automaker Stellantis Says it Will No Longer Need to Buy Emission Credits
The Audi A7 PHEV Named Best Luxury Plug-in Hybrid of 2021 by U.S. News & World Report
- Tactile Mobility Aims to Make Winter Driving Safer with its Virtual 'Road Sensing’ Technology
- Elon Musk Says Tesla’s California Factory Was Forced to Close for Two Days Due to Parts Shortages
- Apple CEO Tim Cook Hints at the Company’s Self-driving Car Plans in New Interview
- California Lidar Developer Luminar & Volvo Partner on a Full Stack Autonomous Driving System
- With Peak Oil in the Past, Shell Pivots to Adding EV Charging Stations
- Volkswagen Might Be Changing its Name to 'Voltswagen’ to Reflect its Commitment to EVs
- China’s EV startup Xpeng is Demonstrating its Autonomous Driving Capabilities with a 7-Day, 3,000 km Road Trip Through China
- PathPartner Develops a Driver Monitoring System Using 4D mmWave Radar & Camera Fusion
- Volvo’s Electric Brand Polestar is Partnering in a Swedish Energy Project to Accelerate the Development of Vehicle-to-Grid Technology
- China’s Ministry of Industry and Information Technology Issues a Guidebook to Help Automakers Source Chips Amid Global Shortages