Tesla beats Wall Street estimates for first-quarter deliveries

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Tesla beats Wall Street estimates for first-quarter deliveries

On Friday, Tesla Inc. beat Wall Street estimates for first quarter deliveries as global demand offset the impact of a solid shortage of parts.

Under the leadership of CEO Elon Musk, Tesla expanded its footprint in the past year, following a pandemic and economic upheaval with profitable sales and steady quarters at a time when many carmakers reported losses.

We are encouraged by the strong reception of the Model Y in China and are quickly moving to full production capacity, Tesla said in a statement.

The new Model S and Model X have also been exceptionally well tested, with the new equipment installed and tested in Q 1 and we are in the early stages of production, it added.

According to Refinitiv data, the electric car maker produced 184,800 vehicles during the first quarter, above estimates of 177,822 vehicles.

The total production of Tesla in the fourth quarter rose marginally to 180,338 vehicles compared with the first quarter production of 179,757 vehicles.

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