Tesla first-quarter deliveries beat estimates By Reuters


© Reuters. FILE PHOTO: A Tesla logo on a Model S is photographed inside of a Tesla dealership in New York

(Reuters) -Tesla Inc on Friday beat Wall Street estimates for first-quarter deliveries, as solid demand offset the impact from a global shortage of parts.

Under the leadership of CEO Elon Musk, Tesla (NASDAQ:) has expanded its footprint in the past year, bucking a pandemic and economic upheaval with steady sales and profitable 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 progressing to full production capacity,” Tesla said in a statement.

“The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production,” it added.

The electric-car maker delivered 184,800 vehicles during the first quarter, above estimates of 177,822 vehicles, according to Refinitiv data.

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

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link