Tesla on Saturday reported record electric vehicle deliveries for the first quarter, but its production fell from the previous quarter due to supply chain problems and the suspension of a factory in China.
“It was an exceptionally difficult quarter because of supply chain disruptions and China’s zero Covid-19 policy,” tweeted company CEO Elon Musk.
Tesla delivered 310,048 vehicles in the quarter, a small increase from the previous quarter and up 68% from a year ago. Wall Street had expected deliveries of 308,836 cars, according to Refinitiv data.
The company produced 305,407 vehicles between January and March, up from 305,840 in the previous quarter.
Tesla, the world’s most valuable automaker, has boosted sales as it tackles pandemic-driven supply chain problems better than its competitors, and with a new factory in Shanghai, China, fueling growth.
But a recent spike in Covid-19 cases in China has forced Tesla to temporarily suspend production at its factory in Shanghai, with the city on lockdown to test residents for the disease.
(Reporting by Akash Sriram, Akriti Sharma in Bengaluru and Hyunjoo Jin in San Francisco)
Source: CNN Brasil
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