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

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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.

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