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Tesla Inc. TSLA,
said on Friday that first quarter deliveries, its indicator of sales, totaled 184,800 vehicles in the first quarter, beating the FactSet consensus of 168,000. The electric vehicle company said it produced just over 180 000 vehicles during the period. Deliveries of its Model 3 sedans and Model Y compact SUVs were 180,338. The FactSet consensus was for 122,600 Model 3s and around 10,000 Model Ys. “We are encouraged by the strong reception of Model Y in China and are rapidly moving towards full production capacity, ”the company said in a statement. “The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in the first quarter and we are in the early stages of ramping up production. When the company released fourth quarter results in January, it said it planned to increase its manufacturing capacity “as quickly as possible” and, as for deliveries, it said it expected to ” achieve an average annual growth of 50% over “several years”. horizon. ”The stock market was closed on Friday, but Tesla shares are down 6.2% year-to-date, while the S&P 500 SPX,
gained 7%. The stock remains up 628% over the past 12 months.
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