Tesla Reports Record Vehicle Deliveries In Q1

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Tesla’s report on Saturday said the company achieved record first-quarter deliveries of electric vehicles.

Tesla delivered 310,048 vehicles in the first quarter, a 68% jump from a year earlier. Wall Street had expected 308,836 deliveries.

Tesla produced 305,407 vehicles from January to March, down from 305,840 vehicles produced in the previous quarter. Tesla said that production fell sequentially due to a number of factors, including supply chain disruptions and the suspension of a Chinese plant.

Tesla delivered a total of 295,324 Model 3 sedans and Model Y sport utility vehicles, 14,724 Model S luxury sedans and Model X premium SUVs.

“This was an exceptionally difficult quarter due to supply chain interruptions & China zero Covid policy. Outstanding work by the Tesla team & key suppliers saved the day,” Tesla CEO Elon Musk tweeted.

Tesla raised vehicle prices in China and the United States in March. Elon Musk had previously stated that the company was exposed to considerable inflationary pressures in raw materials and logistics following the Russian invasion of Ukraine.

The ongoing war in Ukraine has triggered gas prices and demand for electric cars.

For more information, read the original story in Reuters.

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