Tesla just had the record first-quarter production and deliveries, despite coronavirus setback
Tesla just registered their record first-quarter production and delivery numbers as the automaker announced the figures last week, despite being hit by the COVID-19 pandemic at both it’s Shanghai and California production facilities, Tesla had the best Q1 compared to previous years.
Tesla achieved a +33% growth in production and a phenomenal +40% growth in deliveries when the figures for Q1′ 2020 and Q1′ 2019 are compared (see table 1.1 for numbers and comparison) — Tesla also showed consistent growth in production and delivery numbers for 2019 in a QoQ comparison of the whole year.
Table 1.1: Tesla Production and Deliveries Q1' 2019 vs. Q1' 2020
|Model S/X Production||Model S/X Deliveries||Model 3/Y Production||Model 3/Y Deliveries||Overall Production||Overall Deliveries|
|Q1' 2020||15,390 (+8.76%)||12,200 (+0.81%)||87,282 (+38.6%)||76,200 (+49.7%)||102,672 (+33.1%)||88,400 (+40.3%)|
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The main difference between Q1′ 2019 vs. Q1′ 2020 is that the Tesla Model Y compact electric SUV was added to the production and delivery numbers as the company’s CEO Elon Musk announced that in the Q4′ 2020 earnings call that the Model Y production had already started in Jan at the Fremont factory and deliveries are to be expected in the end of quarter in March, and it happened just on time, this time.
The Tesla Model 3 production and delivery numbers from the Shanghai Gigafactory are also included in the figures published on the Tesla investor relations website. Tesla (TSLA) stock price rose 9% after Tesla released the 2020 first-quarter numbers, currently Tesla is trying to start ventilator production at the New York Buffalo Gigafactory and next quarter production start in the United States totally depends on the end of the lockdown period.
Tesla further communicated the following statements to the investor in the Q1′ 2020 production and delivery announcement:
Model Y production started in January and deliveries began in March, significantly ahead of schedule. Additionally, our Shanghai factory continued to achieve record levels of production, despite significant setbacks.
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.