Tesla Announces Better-Than-Expected Sales of Electric Vehicles in Q1 of 2021

Tesla car by Dylan Calluy Unsplash
Tesla car by Dylan Calluy Unsplash

Tesla (NASDAQ: TSLA) disclosed on Friday better-than-expected electric car sales for the 1st quarter of 2021. The news comes despite the massive production and supply-chain problems. Meanwhile, shares of TSLA plunged 0.5% in the extended trading Friday.

The U.S-based electric-vehicles manufacturer sold 184,000 cars in the first three months of 2021, exceeding the expectations of Wall Street. Tesla sold 182,780 of the Model 3 and Model Y. On the other hand, the high-end Model X and Model S reached 2,020. The company added that Model Y saw a high demand in China.

In 2020, Tesla delivered 499,550 cars, and analysts are expecting the electric-car manufacture to continue at the same fast pace of production this year. However, Tesla might face some problems including the global shortage of semiconductors; which caused auto-manufacturing to stagnate in several countries.

Tesla warned of semiconductor shortage

In January, Tesla CFO Zach Kirkhorn warned of obstacles that Tesla would face in the 1st quarter of 2021, including the semiconductor issue.