April 1 (UPI) — Electric car maker Tesla’s output and deliveries will decline in the first quarter of this year after the largest production and the Fremont plant, which has the largest production, temporarily halted production,media reported. As the first quarter draws to a close, Wall Street analysts also gave Tesla an estimate of the delivery of electric vehicles in the first quarter of this year.
For the first quarter of this year, Wall Street analysts on average expected Tesla to deliver 774,000 electric vehicles, a sharp decline from a year earlier, though up from a year earlier.
In the first quarter of last year, Tesla produced 771,000 electric vehicles of all models, delivering about 63,000, and in the fourth quarter of last year it delivered 112,000 vehicles.
Wall Street analysts on average had expected 774,000 units to deliver, up 144,000 units from 63,000 in the first quarter of last year, up 22.86 percent from a year earlier, and 346,000 fewer units from the 112,000 in the fourth quarter of last year, down 30.89 percent from a year earlier.
Analysts expect Tesla’s first-quarter deliveries to fall sharply from a month e-month, largely due to the suspension of production of electric vehicles at the Fremont plant, Tesla’s largest production of model S, Model X, Model 3 and Model Y. In addition to the Model 3, the other three are currently produced only at the Fremont plant.
Even worse, Tesla will speed up the delivery of electric vehicles at the end of each quarter to meet specific delivery targets, and in the fourth quarter of last year they accelerated the delivery of electric vehicles, and on New Year’s Eve, Musk and his mother, Maye Musk, joined in themselves, and a host of volunteers from the Tesla Owners Club helped them deliver hundreds of new cars that had just come off the production line to consumers.
Although Tesla is still delivering electric vehicles after a temporary shutdown at its Fremont plant, the number of electric vehicles it can deliver has been significantly reduced after the suspension.