A total of over 184,000 vehicles were delivered in Q1. Analysts initially predicted that figure to be close to 178,000. To compare, Q1 2021 exceeds Q4 2020’s also impressive 180,570 deliveries even though Tesla shut down its Freemont, California plant for two days in February because of parts shortages. The stock market is already responding to Tesla exceeding expectations.
Wedbush analyst, Dan Ives, one of Wall Street’s highest-rated analysts, believes Tesla’s stock is looking particularly bullish. “While the EV sector and Tesla shares have been under significant pressure so far this year, we believe the tide is turning on the Street and the eye-popping delivery numbers coming out of China cannot be ignored.”