The numbers are in and deliveries exceeded expectations.
Tesla has just released its Q1 2021 production and delivery report, so the numbers are now in. See how Tesla fared this quarter right here.
At 184,800 global deliveries of the Model Y, Model 3, Model S and Model X combined, Tesla beat expectations. The target numbers ranged from about 160,000 to 188,000, so Tesla came out on the high side of those expectations. Additionally, Tesla once again set an all-time record for deliveries by beating the previous high mark of 180,570 set in Q4 2020. Tesla has never posted a stronger Q1 than the previous Q4, so this was unexpected.
Here’s the graphic showing the figures:
For Q1 2021, Tesla lists Model 3/Y deliveries at 182,780. Meanwhile, the combined Model S and Model X deliveries hit just 2,020.
The production itself was 180,338 in total, but note that Tesla did not produce a single Model S or Model X in Q1 2021. It’s readying the refreshed version of both cars for deliveries later this year.
Hopefully, this will again lead to another profitable quarter for Tesla.
In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. 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.
And there’s this additional note, as well as a disclaimer, which indicates the actual results may be a bit higher:
Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.
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