Blog Post #12 – Tesla Record Deliveries

On April 2, 2021, Tesla released its Q1 2021 Vehicle Production & Deliveries reporting a record number of deliveries.

Q1 2021 Production & Deliveries

From these numbers, we can see Tesla is continuing to push sales and production for the Model 3 and Model Y. I suspect the numbers for Model S/X are low due to the Model S refresh that was teased in their Q4 2020 earnings report (now live, but have not been produced).

Comparing these numbers to the Q1 2020 Vehicle Production & Deliveries, we see an increase of 136.66% in deliveries for the model 3/Y and a 109% increase in overall deliveries. There is no doubt that the Model 3/Y continued to gain interest among consumers since 2020.

Q1 2020 Production & Deliveries

Now compare these numbers to the last quarters, Q4 2020 Vehicle Production & Deliveries, we don’t see much of a difference other than decreased deliveries in the Model S/X, but increase deliveries of the Model 3/Y. Tesla only reported 4230 more deliveries in Q1 2021 than Q4 2020. So what is so spectacular here? For Tesla and the automotive industry, Q1 car sales are typically slow and tend to not beat the previous quarter. Tesla’s delivery history can be viewed on a graph here.

Q4 2020 Production & Deliveries

Tesla stock

Coming off from the Easter weekend, Tesla on Monday jumped as high as 7%, but finished around 4.5% up at the end of the trading day. From this jump, investors continue to “like the stock”.

For analysts, we saw Daniel Ives from Wedbush, upgrade his price target to $1000. Other analysts continued to maintain their price targets. General analyst consensus currently sits at $683.45, according to my TD Water House account.

A $1000 price target would be equivalent to $5000 before Tesla’s 5-1 stock split. At the time of writing it is currently $692. My sentiment on Tesla is bullish and I’ve been watching Tesla very closely since 2018. I believe Wedbush’s price target is reasonable. Tesla has much more to show such as the production of the Cybertruck, Model S/X refreshes, self-driving AI, Semi’s, and much more. Tesla is one of my favourite and exciting companies to follow because they continue to push for electric adoption and innovate along the way.

What is next

Tesla is expected to report its Q1 2021 earnings report on May 5, 2021. Tesla has yet to report any earnings reports that have missed targets. I’ll be looking forward to this upcoming earnings report as it will surely support or depreciate its stock value as well as offer insight on Tesla moving forward into 2021.

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