Tesla simply reported first-quarter automobile manufacturing and supply numbers for 2021. In complete, it delivered 184,800 autos and produced 180,338 vehicles.

Analysts had been anticipating Tesla to ship round 168,000 autos throughout this era, in accordance with estimates compiled by FactSet as of April 1. Estimates ranged from 145,000 to 188,000 deliveries.

All the electrical autos it produced had been Mannequin 3 sedans and Mannequin Y crossover SUVs, although it additionally delivered 2,020 Mannequin S sedans and Mannequin X SUVs.

Tesla’s operations throughout the quarter ending March 31, 2021, had been impacted by a fire at its Fremont, California factory, temporary closures that CEO Elon Musk attributed to components shortages, a broader chip shortage within the business, port capability points and the continuing pandemic.

Throughout the identical interval a 12 months in the past, with the novel coronavirus spreading the world, Tesla reported it produced 102,672 autos and delivered 88,400 autos. Manufacturing of its crossover SUV, the Tesla Mannequin Y, had began in earnest as of January final 12 months, with deliveries taking off in March 2020.

At the moment, Mannequin 3 and Mannequin Y deliveries — the closest approximation to gross sales numbers reported by Tesla — amounted to about 86% of complete deliveries. Including the Mannequin Y to its menu, and manufacturing at its Shanghai plant, the primary plant constructed outdoors of California, helped Tesla develop gross sales by about 36% in 2020 versus 2019.

Through the firm’s most up-to-date earnings name, CFO Zachary Kirkhorn mentioned that in 2021: “Particularly for Q1, our volumes will take pleasure in early Mannequin Y ramp in Shanghai. Nonetheless, S and X manufacturing shall be low because of the transition to the newly re-architected merchandise.”

At an annual shareholder assembly in 2020, CEO Elon Musk informed shareholders he anticipated deliveries to hit an implied range between 477,750 and 514,500 vehicles for the 12 months. Tesla hit the mid-range of that window, delivering 499,550 vehicles for the 12 months, its finest gross sales quantity thus far.

Musk and Kirkhorn declined to present particular steering for 2021 deliveries throughout that decision however mentioned they might offer more clarity throughout the second quarter. Kirkhorn mentioned on the decision: “We proceed to anticipate a long-term quantity CAGR of fifty%, of which we could materially exceed this in 2021.” This aim was reiterated by Tesla’s then-President of Automotive Jerome Guillen on the identical name. (Guillen has moved into the function of President of Heavy Trucking since then.)

Followers and critics alike shall be watching to see whether or not new battery electrical autos hitting the market will start to erode Tesla’s lead within the class, or take away extra from gross sales of inner combustion engine and hybrid autos. Startups and massive automakers alike are introducing extra EV fashions than ever earlier than.

On March 29, Jeffries lowered its value goal for Tesla from $775 to $700, with analyst Philippe Houchois writing in a be aware:

“Legacy-free 30-50% internet progress and 2-digit margin potential nonetheless help excessive multiples however Tesla is not distinctive as an EV play with most popular entry to capital. A few of the edge began to erode, however solely slowly and Tesla nonetheless leads on a number of fronts, from software program to design-to-manufacture, pace of execution and direct promoting.”

— CNBC’s Jordan Novet contributed reporting.