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Tesla beat analyst estimates for total deliveries in the first quarter, despite the difficulties caused by COVID-19 in the U.S. and China.
Tesla reported combined deliveries of 76,200 Model 3 sedans and Model Y cross-over SUVs, and combined deliveries of 12,200 Model S and X vehicles.
Taking the pandemic into account, Wall Street expected combined deliveries of 68,674 Model 3 and Model Y vehicles, and combined deliveries of 11,234 Model S and X vehicles.
Check out Tesla’s press release below.
Tesla Q1 2020 Vehicle Production & Deliveries
PALO ALTO, Calif., April 02, 2020 — In the first quarter, we produced almost 103,000 vehicles and delivered approximately 88,400 vehicles. This is our best ever first quarter performance.
|Production||Deliveries||Subject to lease accounting|
Model Y production started in January and deliveries began in March, significantly ahead of schedule. Additionally, our Shanghai factory continued to achieve record levels of production, despite significant setbacks.
Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.