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Tesla Inc posted record deliveries of 184,800 vehicles globally during the first quarter, beating Wall Street estimates of 177,822 vehicles, as solid demand for less expensive models offset the impact of a global shortage of parts.
The deliveries also exceed its previous record of 180,570 achieved last quarter.
Tesla delivered 182,780 Model 3/Ys in the first quarter, up 13% from the previous quarter. In contrast, deliveries of pricier S/Xs slumped from 18,920 to 2,020 during the period, ahead of model refreshes.
According to Tesla, they are encouraged by the strong reception of the Model Y in China, adding that the new Model S and Model X have also been well received.
The electric carmaker added that they are quickly progressing to full production capacity.
Tesla’s Shanghai factory started Model Y production late last year.
Dan Ives, an analyst at Wedbush, noted that China and Europe were particularly robust for Tesla this quarter and he expects annual sales to exceed 850,000 vehicles this year.
Gerber Kawasaki CEO Ross Gerber said sales declines of the more profitable cars would lead to weaker margins for Tesla in the first quarter, but he forecast “blowout” results for the second quarter.
