Credit to Author: Zachary Shahan| Date: Thu, 02 Apr 2020 21:40:35 +0000
Published on April 2nd, 2020 | by Zachary Shahan
April 2nd, 2020 by Zachary Shahan
Tesla has yet again broken some records. This time it broke its previous 1st quarter production and delivery records. With 102,672 vehicles produced and 88,400 delivered, despite both its Fremont factory and its Shanghai Gigafactory being shut down for periods of time last quarter due to the coronavirus.
The 88,400 delivery total was dramatically higher than the 2019 1st quarter total of 63,000, which was itself more than 20,000 vehicles higher than the previous 1st quarter record for the company. In other words, Tesla continues to grow like gangbusters.
The production total in the first quarter was perhaps more interesting than the delivery total — 102,672 vehicles produced is just barely fewer than the number produced in the 4th quarter of 2019, which was an all-time company record for any quarter.
Clearly, getting vehicles delivered at the end of March presented challenges due to coronavirus quarantines and lockdowns being at their highest.
As reported previously, Tesla Model Y deliveries started in the 1st quarter. Interestingly, Tesla has gone the route of combining Model 3 and Model Y numbers. Not fun for those of us who analyze and publish about specific model numbers! Hopefully that will change in coming quarters. If it doesn’t, it will be much more difficult to place the two models in their respective model rankings or overall vehicle rankings, which may steal many headlines from Tesla — since analysts and media outlets will be hesitant to claim either model won any rankings if they had to create their own estimates of those models’ sales. That’s getting into the vehicle sales reporting weeds, though.
Tesla did not offer any guidance of how production and deliveries changed at the end of the quarter or, of course, what it expects in the second quarter. Tesla’s numbers are now at the whim of governmental regulations on economic and social activity — and no one seems to know how those will change from one day to the next, let alone one week or month or quarter to the next. What’s your best guess?
The Q1 numbers are apparently higher than Wall Street expected, as the Tesla [TSLA] stock price jumped rapidly after hours and is still climbing. It’s anyone’s best guess if that trend continues or reverses in the coming days as more information about the coronavirus pandemic, Tesla production, and Tesla deliveries comes out.
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Zachary Shahan is tryin’ to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA] — after years of covering solar and EVs, he simply has a lot of faith in this company and feels like it is a good cleantech company to invest in. But he does not offer (explicitly or implicitly) investment advice of any sort on Tesla or any other company.