Tesla’s Sales Jump in First Quarter, Bucking Industry Trend


Tesla, the world’s leading electric car company, reported on Saturday that it saw a massive increase in its worldwide sales in the first three months of the year. Overcome supply chain problems It has approached production levels on par with established luxury automakers such as BMW and Mercedes-Benz.

Tesla said 310,000 vehicles delivered From January to March, that’s more than 185,000 cars in the same period of 2021, roughly in line with Wall Street’s expectations. The nearly 70 percent increase was in contrast to major automakers such as: General Motors and Toyotareported that major sales fell on Friday due to the shortage of key components.

The first-quarter increase builds on the momentum from last year, when Tesla nearly doubled its sales, dropping to just under 1 million cars, and outpacing Volvo and Subaru. Tesla coped better with an industry-wide shortage of computer chips because his mastery of software allowed him to replace existing chips for scarce ones.

Daniel Ives and John Katsingris of Wedbush Securities said in a note Saturday that first-quarter sales were “a positive step in the right direction for the next step in Tesla growth”, but acknowledged that some analysts were expecting more.

Tesla said on Saturday it was able to deliver sales growth “despite ongoing supply chain challenges and factory shutdowns.” Tesla had to suspend production several times in its Shanghai operation due to quarantines mandated by the local government.

Tesla’s first-quarter sales were virtually unchanged from the fourth quarter of 2021, when it delivered 309,000 vehicles. Tesla Model 3 sedan and Model Y sports utility vehicle accounted for almost all sales volume.

Some analysts think Tesla could sell 2 million vehicles in 2022. Berlin It began producing the Model Y for European customers, challenging the German automakers that dominated the luxury market. Tesla sells more electric vehicles and battery-powered cars than any other automaker. growing faster more than any other category of vehicle. Sales of these cars could increase even more as gasoline prices rise and remain high. Tesla’s $1 trillion market cap is a sign that it’s on track to dominate the industry when it comes to Wall Street.

At the same time, the electric car market is getting more crowded as established automakers offer more battery-powered models like the Ford Mustang Mach E or Volkswagen ID. If the semiconductor shortage eases later in the year, as some industry executives predict, traditional automakers could begin to take a larger share of the electric car market.

The company said on Saturday that Tesla will announce its profit and revenue figures on April 20.



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