Tesla, new record in Q1 of 2021: 1 million sales goal

Tesla, new record in Q1 of 2021: 1 million sales goal

Tesla, new record in Q1 of 2021

Tesla sets new delivery record. In the past few hours, the US car manufacturer has released data relating to production and deliveries relating to Q1 of 2021: the most recent models such as Model 3 and Model Y have particularly pushed commercial activities.

Not surprisingly , the electric vehicle company returns to beat analysts' forecasts thanks to the large numbers it is unexpectedly obtaining. January, February and March saw overall sales of the Model Y, Model 3, Model S and Model X surpass the company's previous record, made in the fourth quarter of 2020, with 184,800 units versus 180,570.

In fact, for the first quarter of 2021, analysts expected results that were rather lower than the current numbers, considering the decidedly remarkable result, especially when compared with the previous year. According to the data released by Elon Musk's company, the growth is in fact equal to 110% and it certainly cannot be excluded that the next few months may show a further increase.

The numbers obtained are however in line with the forecasts of the company which predicted a total of between 160,000 and 188,000 sales. As mentioned, the Model 3 and Model Y dominate, reaching a total of 182,780 registrations. As for Model s and Model x, the two cars only reached a total of 2,020 units.

In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 cars. We are encouraged by the excellent reception of Model Y in China and are rapidly reaching full production capacity. The Model S and Model X were also exceptionally well received, with the new equipment installed and tested in the first quarter, and we are only in the early stages of the production ramp up, Tesla's number one said.

Not coincidentally, Tesla's expansion on the Chinese market together with the start of manufacturing activities in the plant on the outskirts of Berlin, will be fundamental to achieve the objectives set for 2021 and between 840,000 and 1 million units.

Tempered glass for Tesla Model 3 is available on Amazon.

Tesla Surges After Record First-Quarter Deliveries, Wedbush Upgrade

Tesla shares are set to return to positive territory for the year after a record first-quarter delivery tally that could put the carmaker on pace for a blowout 2021 total.

Tesla  (TSLA) - Get Report shares surged higher Monday after the clean-energy carmaker topped Wall Street forecasts with a record first-quarter delivery tally of nearly 185,000 and analysts at Wedbush boosted their 'bull case' price target on the stock to $1,300 a share.

Tesla delivered 184,800 new cars over the three months ended in March, the company said in a Friday statement, up more than 100% from last year and largely ahead of Wall Street estimates of around 177,000 vehicles. Tesla produced 180,338 Model 3s and Model Ys, the company said, and delivered 182,780. A further 2,020 Model S and X cars were added to the delivery total.

Wedbush analyst Dan Ives said the first-quarter totals put Tesla on pace to exceed 850,000 deliveries for the year, a figure that would top last year's record of 499,500 by more than 70%. He lifted his price target on the stock to $1,000 a share, with a 'bull case' level of $1,300, citing what he calls a 'green tidal wave' thesis for the electric-vehicle space.

'In our opinion the first quarter delivery numbers released on Friday was a paradigm changer and shows that the pent-up demand globally for Tesla's Model 3/Y is hitting its next stage of growth as part of a global green tidal wave underway,' Ives said. 

'With a green tidal wave kicked off by Biden last week in the US, and global EV demand skyrocketing going after a $5 trillion (total addressable market) over the next decade, we believe these delivery numbers are a paradigm and sentiment shifter for the space going forward.'

Tesla shares were marked 5.4% higher in early trading Monday to change hands at $698.14 each, a move that will nudge the stock towards positive territory for the year.

'We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity,' Tesla said in a statement alongside the production numbers. 'The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.'

Tesla sold 18,318 of its China-made cars in February, the China Passenger Car Association (CPCA) reported on March 8, up from 3,900 over the same period last year. Tesla's China sales were around a fifth of its overall total in 2020 - when it delivered a record 499,550 vehicles - up from just 12% in 2019.