On Saturday April 2, Tesla published its production and delivery figures for the first quarter of 2022. During this period, the company posted record results with more than 310,000 electric vehicles delivered.
A complicated quarter for Tesla
The car manufacturer specifies in its press release that it has faced many problems at the start of the year. “It was a particularly difficult quarter because of supply chain interruptions and China’s Zero Covid policy,” said Tesla President Elon Musk on Twitter before praising the work of his teams and suppliers.
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This was an *exceptionally* difficult quarter due to supply chain interruptions & China zero Covid policy.
Outstanding work by Tesla team & key suppliers saved the day.
— Elon Musk (@elonmusk) April 2, 2022
In March, the company was forced to twice close Gigafactory 3, its production plant based in Shanghai, China. The Chinese megalopolis confined itself again last week in order to cope with the epidemic outbreak, forcing the closure of the largest Tesla vehicle production plant.
Results that meet expectations
In his report Tesla announces having produced 291,189 Model 3 and Y and 14,218 Model S and X, but also having delivered 295,324 Model 3 and Y, as well as 14,724 Model S and X. This is an increase in production and delivery by nearly 68% compared to the same period last year.
The delivery figures are in line with analysts’ expectations: Refinitiv estimated the number of vehicles delivered at 308,836 against 317,000 for Factset. The Texas-based company therefore remains in the momentum of its last quarter of 2021 with similar production and delivery figures: 305,840 electric cars produced and 308,600 delivered.
A counter-current development
2021 was already a banner year for the automaker and 2022 looks set to pick up the slack. The company started producing its first models in Europe, in its new factory built in Grenheide, Germany. This should eventually produce 500,000 vehicles each year. This initiative joins Elon Musk’s desire to increase Tesla sales by 50% in 2022 compared to 2021.
In a difficult context for the automotive sector where the shortage of semiconductors paralyzes many players, the Texan manufacturer has managed to pull out of the game in order to overtake its competitors. Its mastery of the software on which its vehicles are based enables it to modify them and replace one chip with another when a component model is no longer available.
Details of Tesla’s first quarter financial results will be released on April 20.