Tesla posted report deliveries for the January to March quarter, beating Wall Avenue estimates, as stable demand offset the affect of a world scarcity of elements.

“We’re inspired by the robust reception of the Mannequin Y in China and are rapidly progressing to full manufacturing capability,” Tesla stated in a press release on Friday.

“The brand new Mannequin S and Mannequin X have additionally been exceptionally properly obtained, with the brand new gear put in and examined in Q1 and we’re within the early phases of ramping manufacturing,” it added.

The corporate would not get away gross sales by geography, however the U.S. and China are its largest markets and the majority of gross sales have been of the Mannequin 3 and Y.

Tesla is scheduled to open its first European factory this summer time, outdoors of Berlin, and can construct the Mannequin Y crossover there.

Tesla constructed its first abroad manufacturing facility in Shanghai in 2019, and began manufacturing of the Mannequin Y there late final yr.

The quarterly supply determine is broadly seen as a barometer of demand for each Tesla’s autos and client curiosity in electrical autos worldwide as legacy automakers roll out electrical automobiles of their very own. 

The electrical-car maker delivered 184,800 autos through the first quarter, above estimates of 177,822 autos, in accordance with Refinitiv knowledge. The earlier report was 180,570, achieved final quarter.

Tesla’s whole manufacturing within the first quarter rose marginally to 180,338 autos in contrast with the fourth-quarter manufacturing of 179,757 autos.

Tesla’s Fremont, California, plant was additionally shut down for 2 days in February attributable to “elements shortages.”

Tesla has grow to be probably the most precious auto firm on the earth by far, regardless of manufacturing that may be a fraction of rivals reminiscent of Toyota, Volkswagen and GM, though its shares are down 6 % this yr. 

Bloomberg and Reuters contributed to this report