Tesla Zips Past The Million Mark For Both Output And Deliveries Over Past 12 Months

Tesla Inc’s TSLA production and delivery numbers shot past the one million mark each in the past 12 months, a first for the Elon Musk-led electric vehicle maker. 

What Happened: Austin, Texas-based Tesla made 1.055 million electric vehicles and delivered 1.06 units in the past four quarters, starting from the second quarter of 2021. 

Tesla on Saturday said it produced over 305,407 units and delivered over 310,048 in the first quarter of 2022 despite ongoing supply chain challenges and factory shutdowns.

The company also had to shut down its Giga Shanghai manufacturing facility due to COVID-19 related curbs several times in the first quarter. 

The Breakup: Tesla, which currently offers four models for sale, produced and delivered over 1 million units of its best-selling Model 3 and Model Y cars. 

It produced 1.01 million Model 3 and Model Y units in the last twelve months. Tesla does not break down individual model sales numbers.

The company in December 2020 had stopped production of the Model S and Model X for updates but continues to accept new orders.

Tesla produced 38,608 Model S and Model X units and delivered 37,639 of them in the past 12 months.

See Also: Could Tesla Exit 2022 With 2M Unit Run Delivery Rate?

Why It Matters: Tesla last month opened its first factory in Europe for business and is scheduled to open the Giga Texas plant on April 7. Giga Berlin and Giga Texas each have a capacity of 500,000 units a year.

Wedbush analyst Daniel Ives last month estimated Tesla “could now be on a 2 million unit run-rate exiting 2022,” after Musk handed over 30 new locally made Model Ys to customers in Berlin.

Price Action: Tesla stock closed 0.6% higher at $1,04.6 a share on Friday.

Photo courtesy: Tesla