Last week Tesla reported their delivery and production numbers for the first quarter of the year. The delivery numbers smashed expectations which pushed the share price 5% higher on Monday. Tesla delivered 185 thousand vehicles in the quarter versus consensus of 170 thousand. They were able to manufacture 180 thousand vehicles in the quarter.
Tesla commented that the the new model S and X models have been very well received while the Model Y is flourishing in China.
These numbers are impressive because supply chains around the globe are still being delayed due to Covid lockdowns. To surpass expectations like that is impressive.
A good first quarter like this hopefully means the momentum carries on throughout the year. After these numbers were released, I have seen numerous analyst upgrades on annual production figures. Bloomberg consensus sits at 831 thousand. Let's hope for 1 million!