After the great increase in the number of sales after the first-quarter period, Tesla has seen a jump in its share by higher than 6%. With the opening of the share market on Monday, the increase in Tesla’s shares was noticed. It is a happy moment for all the investors of Tesla, as the expectations of the delivery and production figures have exceeded the expectations significantly.
On Friday, Tesla gave a report of their sales during the first quarter of the new year. The report contains their production and delivery figures. In their report, it has been stated that during the said period, Tesla produced 180,338 cars, and 184,800 vehicles were delivered in the same period. As per the prediction of the analysts, the number of vehicles Tesla was expected to deliver in the first three months of 2021 were around 168,000. Compiled by FactSet, this estimation was of April 1st. Tesla surpassed the estimated amount by a significant margin.
The first three months of the new year saw Tesla breaking their own record. Till now, the highest number of deliveries by the company amounted to 180,570. This record was set in the final quarter of 2020. In the very first quarter of next year, Tesla set a new record of their deliveries again.
On Sunday, Daniel Ives, a Wedbush analyst upgraded the Tesla shares. The rise in the number of deliveries and production had clearly a positive effect, and the outperforming nature has been considered. As a result, the previously set $950 target price of the company over a period of 12 months has been raised to $1000.
Daniel Ives further stated that the sales record of Tesla in the first quarter of 2021 has changed the paradigm, and the demand for the car models of Tesla is gradually growing worldwide. As a part of a wave where the Earth is trying to be protected by going green, the electric vehicles of Tesla are serving to be the most in-demand vehicles. He further stated that the belief is there that Tesla can perform more than 850k deliveries in a single year, given their stretch goal is set around 900k. This can happen despite the shortage of chips and parts, and even the disruption in the chain of supply that is negatively affecting the auto sector may not be able to keep down Tesla’s such numbers.
Recently, a statement that was released in February 2021 displayed the sales figures of Tesla vehicles in China. It has been seen that the number of vehicles sold in China this year is more than double the number of vehicles sold in the previous year. Even the disrupting nature of the Coronavirus pandemic has been unable to keep down Tesla’s sales in China. With the sale of electric cars, the company generated a whopping $6.66 billion. This amount was nearly a fifth of the company’s total revenue, which rounded around $31.54 billion.
Even though the sales were this good, Tesla still had a tough last year, with a 9% decrease in shares by the start of 2021