| Title | Tesla Beats Expectations with Strong First-Quarter Delivery Numbers | |
| Date | Saturday April 04 2020, @06:17AM | |
| Author | martyb | |
| Topic | ||
| from the business-is-business-and-business-is-good dept. | ||
Tesla produced 102,672 vehicles in the first quarter of 2020 and delivered 88,400 vehicles to customers, the company announced to investors on Thursday. While the delivery number is down from the previous quarter, the overall results were better than analysts had expected, sending Tesla's stock up more than 10 percent in after-hours trading.
"Our Shanghai factory continued to achieve record levels of production, despite significant setbacks," Tesla said in its Thursday release.
The results are particularly impressive in light of the ongoing coronavirus crisis. Ford, which also announced Q1 sales numbers today, blamed the coronavirus for a 12-percent year-over-year decline in sales. Presumably, economic uncertainty about the coronavirus discouraged some people from buying Tesla vehicles in March. Despite that, Tesla's deliveries for the quarter grew 40 percent from a year earlier.
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printed from SoylentNews, Tesla Beats Expectations with Strong First-Quarter Delivery Numbers on 2024-04-25 05:57:21