Tesla Inc says it delivered 184,800 vehicles in the first quarter

Written by: Wajeeh Khan
April 5, 2021
  • Tesla Inc says it delivered 184,800 vehicles in the first quarter.
  • The electric car company files a petition against NLRB’s ruling.
  • Tesla was a little under 10% up in premarket trading on Monday.

Tesla Inc. (NASDAQ: TSLA) said on Friday that it delivered 184,800 vehicles in the first quarter. In comparison, FactSet Consensus for its Q1 deliveries stood at a much lower 168,000.

Tesla shares were reported a little under 10% up in premarket trading on Monday. Including the price action, the stock is now exchanging hands at £512 per share versus a higher £526 per share at the start of the year. Tesla Inc. touched a high of £637 per share in the final week of January.

Tesla published its quarterly financial results in January

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Tesla published its financial results for the fiscal fourth quarter in January that highlighted a 46% year over year increase in its revenue.

Tesla said it produced more than 180,000 vehicles in the first quarter. Combined sales of Model 3 and Model Y, the U.S. carmaker added, stood at 182,780. FactSet Consensus for combined sales of the two models was capped at a much lower 132,600.

Tesla Inc said in an official statement on Friday:

“We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1, and we are in the early stages of ramping production.”

Tesla files a petition against NLRB’s ruling

In related news, the U.S. National Labour Relations Board recently charged Tesla Inc. with violation of U.S. labour law. On Friday, the electric car manufacturer approached the New Orleans-based U.S. Court of Appeals to file a petition that requests a review of NLRB’s order issued on 25th March.

NLRB had also ordered the car manufacturer to direct its Chief Executive Elon Musk to delete the following tweet posted in 2018, as it called it “anti-union”.

“Nothing stopping Tesla team at our car plant from voting union. Could do so tomorrow if they wanted. But why pay union dues & give up stock options for nothing? Our safety record is 2X better than when plant was UAW & everybody already gets healthcare.”

Tesla performed massively upbeat in the stock market last year with an annual gain of more than 700%. At the time of writing, the Palo Alto-based electric vehicle manufacturer has a market cap of £458 billion and a price to earnings ratio of 1,038.66.