Tesla has reported its automobile manufacturing for the primary quarter of 2021. These numbers have been effectively previous what many have been speculating, together with well-known Tesla supply tracker Troy Teslike, who has an outstanding report doing this. Tesla delivered 184,800 electrical autos and produced 180,338 within the first quarter of the brand new 12 months.
Many have been assuming Tesla would ship between 160,000 and 170,000 autos. Estimates ranged between 145,000 and 188,000 deliveries, however the Wall Road consensus (in keeping with Factset) was only a bit over 160,000. Troy’s estimate was a “extra bullish” 165,100.
In its assertion, Tesla wrote, “We’re inspired by the sturdy reception of the Mannequin Y in China and are rapidly progressing to full manufacturing capability. The brand new Mannequin S and Mannequin X have additionally been exceptionally effectively acquired, with the brand new tools put in and examined in Q1, and we’re within the early levels of ramping manufacturing.”
The corporate famous that its supply rely needs to be seen as barely conservative because it solely counts a automobile as delivered if it’s transferred to the client and all the paperwork is correct. Finalizing some paperwork might take just a few days.
Tesla additionally delivered 2,020 Mannequin S and X autos from its stock, a fraction of its whole deliveries. Within the graph above which comes from Tesla’s press launch, you’ll be able to see that Tesla didn’t produce any Mannequin S or X autos, so simply offered a little bit greater than 2,000 from its stock. Manufacturing has been delayed as a result of revamped mannequin designs and a few manufacturing delays related to the change.
A 12 months in the past, we predicted that when it got here on-line, Giga Shanghai can be a game-changer for Tesla’s manufacturing numbers. Contemplating Tesla’s Q1 2021 supply numbers are so excessive, and far of these deliveries come from the China manufacturing facility (see Troy’s detailed have a look at that matter), I feel it’s protected to say we’re proper about this one. Again in November of final 12 months, Sina Expertise reported that Tesla’s Giga Shanghai would produce 550,000 vehicles in 2021, with plans to export greater than 100,000 of them.
Tesla’s Q1 2021 numbers replicate that issues aren’t solely going effectively for Tesla, but it surely’s on monitor to proceed assembly or beating its targets.
New Podcast: Forecasting EV Gross sales And EV Battery & Metallic Costs — Interview with BloombergNEF’s Head of Clear Energy Analysis