Despite around a week of production halt (since March 28) at Tesla’s Shanghai factory due to the city’s two-stage lockdown, Tesla managed to deliver a record 310,048 cars in Q1 and the numbers are impressive!
How impressive you may ask. Considering that the output from Shanghai factory is a huge one that surpassed even the Fremont, California factory (which is Tesla’s first plant), one may think the Q1 production numbers will be hit hard as a result of the production halt. But that is not much the case as expectations were some 308,836 cars delivered according to Refinitiv. Now let us take a look at the same period last year, Tesla has delivered 184,800 cars. That is some nice growth: up 67%+ and that is despite the ongoing challenges from supply-chain to factory production halt. Another interesting point to note is that deliveries in Q4 is typically strong or commonly recognised as the best quarter, and for Tesla in Q1 2022 to deliver some 310k cars versus over 308k cars delivered in Q4 2021 suggest that Tesla is doing fantastically well.
If not for the factory shutdown, the production numbers are expected to set an even higher record with the increased output from the newly opened Giga Berlin plant in Grünheide. In addition, the recent skyrocketing gas prices are likely to persist and increase demand and EV orders for the company. This suggests that Tesla’s growth story and high EV demand are still intact.
Moving forward, here are several Tesla stock-moving events to look out for: performance of other EV makers, Tesla approval of stock split and split quantity, revenue from Tesla supercharger network business, Tesla outlook especially updates on factories running capacity given that Tesla’s factories have been running below capacity for a few quarters due to supply-chain challenges.
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Comments
Not surprising, but $Tesla Motors(TSLA)$ did it again! never disappoints 📈