Tesla yesterday reported that it had produced nearly 103,000 vehicles from its two auto plants in the first three months of 2020, its most prolific first quarter to date and ahead of analysts’ expectations.
More than 87,000 Model 3 and the new Model Y crossovers were made between Jan. 1 and March 31, compared to 15,390 Model S and Model X.
The automaker said it delivered 88,400 vehicles in the first quarter of 2020, up from 63,019 vehicles from the first quarter of 2019. Tesla reported it built 77,138 vehicles in the first quarter of 2019.
| Production | Deliveries | Subject to lease accounting | ||
| Model S/X | 15,390 | 12,200 | 16% | |
| Model 3/Y | 87,282 | 76,200 | 5% | |
| Total | 102,672 | 88,400 | 7% |
Thursday’s numbers were slightly lower than the fourth quarter of last year, however. Tesla said last year that it built nearly 105,000 vehicles in the fourth quarter of 2019 and delivered 112,000.
The increase of about 40% in delivered vehicles, year over year, is in contrast to nearly every other automaker this year that’s so far reported double-digit loses in the first quarter due to the coronavirus and other slowdowns.
Tesla said its new factory in Shanghai
achieved record levels of production, despite significant setbacks
but didn’t specify output.
Like most auto manufactures Tesla was forced to shutter its plants in Shanghai and Fremont, California, due to the coronavirus outbreak, although the Shanghai plant was reportedly reopened in February and the Fremont plant didn’t end assembly until March 23. Tesla also said it started Model Y production in January.
The automaker didn’t comment on its overall profitability and outlook. Those figures will be made public when the automaker announces its first-quarter financials to investors later this month.
