Tesla Inc.’s production capacity is already sold out for the April to June period with two months left for the quarter, according to electric vehicle site Elektrek.
- Tesla Chief Executive Officer Elon Musk said that while demand historically declines in the first quarter, the opposite was seen this year, and this is likely to extend into the second quarter.
- The company expects production capacity to increase even further this quarter from the record production of 180,338 cars recorded in the January to March quarter.
- While production delays limit deliveries of the updated versions of the models S and X, Models 3 and Y are still increasing.
- Productions in Shanghai and Fremont will drive the growth as the production of the Model S restarts and that of Model Y is expanded.
- “We’ve seen a real shift in customer perception of electric vehicles, and our demand is the best we’ve ever seen,” Musk said during the first-quarter earnings call.
TSLA: Nasdaq is down 2.07%.