Tesla delivered 88,400 vehicles in the 1st quarter of 2020

Tesla delivered 88,400 vehicles in the 1st quarter of 2020

New York, April 3, 2020

Tesla reported on Thursday that it delivered about 88,400 vehicles in the first quarter of 2020, exceeding expectations. Analysts had expected around 79,900 vehicles on Wednesday, according to a survey by FactSet. The Tesla share rose by more than 17%.

Broken down by model, Tesla reported combined deliveries of 76,200 Model 3 sedans and Model Y crossover SUVs as well as combined deliveries of 12,200 of the older and more expensive S and X models.

These figures also exceeded the estimates: Analysts had expected 68,674 combined deliveries of Model 3 and Y sedans and 11,234 combined deliveries of S and X models by Wednesday.

The estimates took into account the COVID 19 pandemic, which required Tesla to cut back production of new cars at its main plant in Fremont, California in the last week of March and production in Shanghai was also halted in January and February.

Without the COVID-19-related shutdowns, analysts agree that Tesla would have been able to deliver 95,528 vehicles, including 81,478 combined 3 and Y-model vehicles and 14,050 combined S and X-model vehicles.

This quarter was the first quarter in which Tesla produced and delivered the Y model, the company’s newest vehicle. The company did not provide any information on the production and sale of the crossover SUV.

For the period to 31st March, Tesla stated that it produced a total of around 103,000 vehicles, including 15,390 S and X models and 87,282 3 and Y models.