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Automobile
Tesla's Q1 deliveries beat expectations on strong China demand
CKN
2021/04/07 03:02:06
2,899

Apr 07, 2021 (China Knowledge) - Tesla reported a jump in auto deliveries for Q1, 2021 which beat Wall Street estimates, citing strong demand in China has ramped up production.

In Feb, Tesla's China sales jumped from the previous month even as demand normally fell during China's Lunar New Year holidays.

Data shows Tesla delivered 184,800 vehicles globally during the Q1, above estimates of 177,822 vehicles. This also exceeds its previous record of 180,570 achieved last quarter.

Dan Ives, an analyst at Wedbush believes that China and Europe have been particularly robust in the Q1, and he expects Tesla's annual sales to exceed 850,000 vehicles this year, fuelled by rising global demand and the Biden administration's policy of boosting EV sales.

Other automakers like General Motors on Thursday reported a rebound in the Q1 on U.S. market, but volumes were capped by a global chip scarcity that forced many companies to cut production.

Tesla has become the most valuable auto company in the world by far, despite a fraction of the production of its rivals such as Toyota Motor, Volkswagen and GM.

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