Tesla's first quarter shipments down when shipping model 3 overseas – TechCrunch



[ad_1]

Tesla delivered 63,000 electric vehicles in the first quarter of the year, down one-third from the previous quarter, the company said on Wednesday. Tesla said it expects lower than expected delivery volumes and several price adjustments to have a negative impact on first-quarter profits.

Shipments included approximately 50,900 model 3 vehicles and 12,100 SUVs of the S and X models.

Tesla said that despite the difficulties, he "finished the quarter with enough cash".

Tesla has blamed the striking difference in numbers for its efforts to increase deliveries of its model 3 electric car in Europe and China, a source of challenges and delays.

"Due to a massive increase in shipments to Europe and China, which has sometimes been five times higher than previous peak levels, and many challenges encountered for the first time, we do not have the same amount of money. had delivered only half of the quarter's numbers to March 21st before the end of the quarter, "said Tesla in his report." This resulted in a large number of vehicle shipments in the second quarter. "By the end of the first quarter, about 10 600 vehicles were in transit to customers around the world. "

These figures appear to be more influenced by lower S and X model shipments. Shipments of the S and X models declined by almost half from the fourth quarter.

Tesla delivered 90,966 vehicles in the fourth quarter. Of these, 27,607 were Model S sedans and Model X SUVs and 63,359 were Model 3 models.

The company also produced fewer vehicles than in the fourth quarter. The decline is entirely due to the decline in Model S and X numbers. Last January, Tesla announced that it would no longer take control of its 75 kWh version of the S and X models, which could explain some of the of this reduction.

In the first quarter, Tesla produced a total of 77,100 vehicles, including 62,950 3 models and 14,150 S and X models. This is almost 11% less than in the fourth quarter when Tesla produced 86,555 vehicles , of which 61,394 models 3 and 25,161 models S and X.

In the first quarter, Tesla produced 1,555 additional model 3 cars compared to the fourth quarter.

Tesla further emphasized that its sales, particularly in North America where it is available longer, are strong. The company noted that model 3 vehicle stocks in North America "remain exceptionally low, reaching about two weeks of supply at the end of the first quarter, compared to the industry average of 2- 3 months".

Tesla reaffirmed its previous forecast of 360,000 to 400,000 vehicle deliveries in 2019.

[ad_2]
Source link