Tesla posts record Q1 production and delivery results, almost exclusively from Model 3 and Model Y
In the first quarter of 2021, Tesla produced 180,338 vehicles and delivered 184,800 vehicles. That’s a record for what is traditionally a quiet quarter, and represents a 76 percent increase from 102,672 vehicles, and a nine percent increase from 88,400 vehicles produced and delivered respectively in the first quarter of 2020.
In the first quarter of 2021, Tesla produced 180,338 vehicles and delivered 184,800 vehicles. That’s a record for what is traditionally a quiet quarter, and represents a 76 percent increase from 102,672 vehicles, and a nine percent increase from 88,400 vehicles produced and delivered respectively in the first quarter of 2020.
These results also eclipsed the fourth quarter of 2020—traditionally a strong quarter—where Tesla produced 179,757 vehicles and delivered 180,570 vehicles.
Looking at the numbers above, the Model S and X contributed just over one percent of deliveries to Tesla’s Q1 2021 results, due to the fact that production ceased late last year as production lines are set up and retooled for the refreshed Model S and Model X Long Range, Plaid and Plaid+ due to launch this year. in the fourth quarter of 2020, Model S and Model X sales comprised approximately 10% of total vehicles produced and delivered. Years ago, critics mocked Elon Musk when he stated that Model S and Model X sales are “not all that important” in the long term.
Tesla’s Semi, likely to be introduced in 2022. Image: Tesla Motors
Despite strong forward demand for the revised Model S and Model X ranges, it’s now clear that Musk’s plan is coming to fruition; the more affordable Tesla Models are indeed contributing to the bulk of production and delivery numbers. China’s Gigafactory has been ramping up production over the last few months, and strong demand for Model Y in both China and in North America has clearly been a winner for Tesla.
With the installation of the Gigapress die-casting machines in Tesla’s factories, the company is able to realise even greater efficiencies in production, and maintain production to meet demand. 2021 will be an interesting year for Tesla; there’s the refresh of the Model S and X which will increase premium category sales and boost profitability, Both the Texas and Berlin Gigafactories are set to come online, Shanghai is expanding, and there is talk internally at Tesla that one million vehicles produced and delivered might be achievable.
Source: Tesla Motors
Tesla Closes 2020 with a Record Q4 and 500,000 Vehicles Delivered
Tesla delivered 499,500 vehicles for the 2020 calendar year, and produced 509,737 vehicles. That’s almost 10x the production output from 2015. Many Wall Street analysts dismissed Tesla’s 500,000 unit goal for the year, as the onset of COVID-19 impacted the automaker’s production facilities around the globe…
Freemont Outbound Delivery Lot - Image: Tesla
Tesla delivered 499,500 vehicles for the 2020 calendar year, and produced 509,737 vehicles. That’s almost 10x the production output from 2015. Many Wall Street analysts dismissed Tesla’s 500,000 unit goal for the year, as the onset of COVID-19 impacted the automaker’s production facilities around the globe, and negatively affected sales across the broader passenger car market.
Image: Tesla
Five years ago, the company’s CEO Elon Musk emphasised a plan to reach a delivery target of 500,000 vehicles per year by 2020. At the time, this number seemed overly ambitious, as production difficulties, cashflow troubles and quality concerns seemed to be the most interesting stories to the media.
After a string of profitable quarters, successful launch of the Model Y and massive capital expansion, 2020 culminated in Tesla’s listing on the S&P 500 index, and a massive push to increase production by year end.
Tesla produced 179,757 vehicles and delivered 180,570 vehicles in Q4, up 42 per cent and 36 per cent respectively on Q4 2019 numbers. In Q3 2020, Tesla produced 145,036 vehicles and delivered 139,300 vehicles.
Elon Musk took to Twitter to mention the thousands of employees who contribute to Tesla’s continued success:
Investors and the majority of analysts have been very bullish on Tesla at the end of 2020, and the stock has surged past $705 US per share as at market close on December 31. Despite this, The New York Times, amongst other media outlets still falls into the trap of labelling Tesla as an “upstart automaker [that] will probably face stiffer competition in 2021.”
While its true Tesla has ongoing customer service and quality issues to address, and a huge amount of work ahead to continue to scale to meet future production and delivery targets, it’s dangerous to not see Tesla for what it now is; an energy company with the best automotive software on the market, and likely the best electric vehicles available today.
We can expect the full Q4 and calendar year 2020 earnings to be reported in late January or early February.
