In a global epidemic, the new coronavirus, which has infected more than a million people, doesn’t seem to have stopped Tesla from moving forward, but it’s still taking them back to normal, but the second-quarter crisis is just around the corner. This morning, the electric giant reported first-quarter production and delivery data compared with the same period last year, much ahead of market expectations.
Model 3, Shanghai factory just offline
Unfortunately, in such a tough situation, Tesla has been unable to sustain the “crazy” momentum of the fourth quarter of last year. If the global outbreak is not further brought under control and Tesla’s plant continues to shut down, Musk may have to hand in a rather ugly report card in the second quarter.
In the first three months of 2020, Tesla delivered 884,000 electric cars to users worldwide, up 40 percent from the same period last year, and the market expects them to deliver 80,000 in the first quarter. Of the 884,000 vehicles delivered in the first quarter, the Model 3 and Model Y accounted for 762,000 units, while the more expensive Model S and X combined for 122,000 units. In terms of output, a total of 102,672 electric vehicles walked off the production line in the first quarter, up more than 30% from 77,100 units in the same period last year.
While the year-on-year figures look strong, they are “in shape” compared with the fourth quarter of last year. Even with the Shanghai Super plant in production stable, Tesla’s first-quarter deliveries fell 21% from the fourth quarter of last year, and even production fell 2.1 percent.
At the beginning of 2020, Tesla will be able to take full advantage of the world, with the Shanghai plant going into production, model Y production and delivery ahead of schedule, and its share price even higher, with the company’s market capitalisation rising to $168.8 billion on February 19. However, after the outbreak in the United States, the situation began to plummet, Tesla’s share price fell, and the Fremont plant was in full production.
Early delivery of Model Y hits new crown outbreak
“Despite the new crown outbreak, production at the Shanghai plant has been rising rapidly since the resumption of work, even setting records. Tesla said in a statement, though they did not give any specific data. The Shanghai plant officially went into operation on January 7 this year, but was closed for some time because of the outbreak, and with the domestic outbreak under effective control, production is believed to be on track.
In the coming weeks, Tesla will also release first-quarter revenue, profit and other detailed financial results.
Bernstein analyst Toni Sacconaghi said that while production and deliveries exceeded analysts’ expectations, the next few months were a real lysing for the auto industry, and Tesla could not stand alone.
“The economic weakness in the second and third quarters was pretty scary. He wrote in a research note. “We have noticed that car sales in developed countries fell by 20% in the 2007-2009 economic crisis cycle, which took 10 years to make up for, while for Tesla, the developed market accounted for 80 percent of its revenue. Even with small economic fluctuations, it will take three to five years for car sales to get hot again. “
But Tesla is also a good place to see a general decline from other manufacturers.
In the U.S. market, GM’s first-quarter sales fell 7 percent year-on-year, Fiat-Lesler fell 10 percent, Toyota fell 9 percent and Subaru plunged 17 percent. As for brands such as Volkswagen, BMW, Audi and Porsche, sales have also fallen by double digits year-on-year.
Tesla’s shares rose more than 15 percent after the first-quarter delivery and production data.