Tesla's deliveries in Q1 2022 reached a record 310,000 vehicles, up 67.5% year-on-year

While major global automakers struggled with parts shortages and Musk said supply chain issues made this an "extremely difficult quarter," Tesla still delivered an outstanding performance. Tesla reported on Saturday that global deliveries increased significantly in the first quarter of this year as it overcame supply chain issues, and production levels are close to established automakers such as BMW and Mercedes-Benz.

First-quarter deliveries hit a new high, up 68% year-on-year

Tesla said its first-quarter deliveries reached a record 310,000 vehicles, up from 185,000 vehicles in the same period of 2021, a year-on-year increase of 67.5%, in line with Wall Street's previous forecasts.

In addition, Tesla's delivery volume in the first quarter was basically the same as in the fourth quarter of last year, when Tesla's deliveries reached 309,000 vehicles, basically occupied by Model 3 and Model Y.

Tesla production and delivery data for the first quarter of 2022

In addition, in the first quarter, Shanghai Super Factory continued to maintain its position as Tesla's global export center. In January, Shanghai Super Factory exported 40,500 vehicles, and in February, Shanghai Super Factory exported 33,315 vehicles, further expanding the achievements of Chinese smart manufacturing on the international stage. At the same time, Tesla also ranked firmly in the "50,000 Club" with domestic sales of 59,846 and 56,515 vehicles in January and February.

Tesla's growth in the first quarter continued the momentum of last year's sales surge, when Tesla's sales almost doubled to nearly 1 million vehicles and surpassed Volvo and Subaru. This was based on Tesla's good response to the chip shortage, as it could replace scarce chips with available chips by adjusting its software.

However, in stark contrast to Tesla's sales surge, major automakers such as General Motors and Toyota said on Friday that sales had plummeted, mainly due to a shortage of parts.

Tesla may maintain its position as electric vehicles gain momentum

Analysts Daniel Ives and John Katsingris of Wedbush Securities, a financial services provider, said in a report on Saturday that the first-quarter sales were "a positive step in the right direction for Tesla toward its next stage of growth."

Some analysts pointed out that since Tesla's Berlin factory has begun producing Model Y for European customers, Tesla's deliveries may reach 2 million vehicles in 2022, posing a challenge to German automakers that dominate the luxury car market.

Tesla's electric car sales are currently outstripping those of other car types, and sales of electric cars are growing faster than any other type of car. As gasoline prices soar and remain high, electric car sales are likely to grow further.

For Wall Street, Tesla, with a market value of more than $1 trillion, will become the dominant force in the electric vehicle industry.

Meanwhile, while established automakers have been slow to embrace electric vehicles, such as Ford’s delayed launch of the Mustang Mach E, the hot race is becoming increasingly crowded. If the chip shortage eases later this year, as some industry executives predict, traditional automakers could take a bigger share of the electric vehicle market.

From Wall Street News