Electric cars

Tesla set to announce another quarterly delivery record as interest in electric vehicles soars

Tesla set to announce another quarterly delivery record as interest in electric vehicles soars

Tesla is about to announce another record quarter in terms of deliveries of its all-electric vehicles. A new report suggests the electric carmaker will benefit from soaring gasoline prices, which have increase in vehicle orders for Tesla over the past few months.

Analysts interviewed by Bloomberg suggest Tesla will report delivery figures of around 309,158 cars worldwide, a substantial increase from last year’s mark of 184,800 for the first three months of the year. That’s a slight increase from the 308,600 vehicles Tesla delivered in the fourth quarter of 2021, its largest delivery mark for any quarter in its history.

Tesla has only slightly increased its manufacturing capacity since the fourth quarter, as it recently started delivering vehicles produced at Gigafactory Berlin in Germany. Gigafactory Texas may have contributed slightly to the delivery figures as some Model Y vehicles built at the Austin plant have been spotted on the roads, but it is unconfirmed whether they have actually been delivered to customers and will be included in Tesla’s first quarter 2022 delivery metrics.

While profitability and a healthy financial position are undoubtedly crucial, Tesla’s delivery numbers are among the most scrutinized metrics at the end of a quarter. Tesla has gained unequivocal recognition as a leader in the electric vehicle industry, prompting many companies to switch to a line of all-electric vehicles. The company’s delivery numbers are often seen as a metric for determining how quickly electric vehicles are being adopted in the United States and other jurisdictions. If the data is any indication, and Tesla’s metrics are seen as a representation of EV adoption, things are looking good. The automaker has increased quarterly deliveries every quarter since the first quarter of 2020, when various shutdowns due to the COVID-19 pandemic ended Tesla’s streak.

Tesla relied on just two factories for global deliveries: the Fremont factory in Northern California, which manufactures all four Tesla models, and the Gigafactory Shanghai in China, which produces the Model 3 and Model Y. Shanghai has also become a hub of export for customers in Europe as Tesla awaited approval from the Berlin factory, which came later than originally planned.

The new record quarter could be seen as another test for Tesla in a world of uncertainty. As the The Shanghai facility has been locked down due to an increase in COVID cases in China, factory stagnation could have hampered an even stronger quarter for Tesla. Shanghai delivered more than half of Tesla’s total vehicle sales in 2021, surpassing the Fremont plant. The shutdown could be the reason for Tesla’s first delivery downside in two years.

“We view the recent Covid surges in China as a potential downside risk, given that Tesla deliveries are typically weighted toward the end of the quarter,” Credit Suisse analyst Dan Levy said in the statement. Bloomberg report. Levy expects Tesla to post 307,000 deliveries, putting it below a quarterly increase.

Tesla could release delivery numbers as early as today, although the automaker hasn’t announced a specific date. Tesla Stocks (NASDAQ: TSLA) were up less than 0.20% as of noon EST.

Disclosure: Joey Klender is a shareholder of TSLA.

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Tesla set to announce another quarterly delivery record as interest in electric vehicles soars