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On Thursday evening Tesla released their Q1 production figures, which sent the stock higher by 17%. Here are the numbers - produced 103 000 vehicles, which is 2% down from the previous quarter but 34% higher than the same time last year. As is to be expected, their deliveries took a bigger hit, down 21% from the previous quarter.
As we have spoken about before, Tesla's biggest problem at the moment it that they can't produce cars quick enough. So when looking at their figures, production is what matters. If they don't deliver the car in this quarter, they will deliver it in the next quarter.
It is during this global shutdown that having two factories is going to be a huge benefit. Their new Shanghai factory was closed for a few weeks in January, but the US factory was still producing. Now that the US plant has closed, the Shanghai factory is back up and producing at record levels!
