Tesla Reports Record Deliveries

The EV maker released its Q1 vehicle production and delivery numbers on Saturday.

🔢 What they revealed…

• Tesla delivered a record 310,048 vehicles this past quarter, a slight increase from the previous quarter and slightly above analysts’ estimates.
• It produced 305,407 vehicles from January to March, down from 305,840 the previous quarter.
• For comparison – over the same period last year, Tesla delivered 184,800 electric vehicles and produced 180,338 cars.

🚗 Elsewhere: In numbers released on Friday, GM and Toyota reported declines in car and truck sales in Q1 (20% and 15%, respectively).

📸 The big picture: Tesla, along with the rest of the auto industry, has been hurt by widespread parts shortages and inflation, CNBC reports. Key components like semiconductors remain in short supply, and prices for raw materials like nickel and aluminum have increased since Russia launched its invasion of Ukraine in February.

• And on top of that – as we’ve previously covered – China’s “zero-Covid” policy is further disrupting auto manufacturing and supply chains. Tesla’s factory in Shanghai was shuttered for four days last week due to a Covid lockdown.