Tesla broke a vehicle dedication record in the first quarter of 2022, but did not meet market expectations. The electric car maker delivered 310,048 vehicles in the quarter and created 305,407 new ones. This is the largest volume of vehicles the company has delivered to date and a leap compared to the same quarter last year, when Tesla delivered 184,800 cars and generated 180,338.
However, according to CNBC, analysts expected the company to deliver 317,000 vehicles in the first three months of the year.
Tesla’s operations in the last quarter ended last Thursday were hit by Corona’s restrictions in China, which led to production interruptions at the company’s plant in Shanghai. In addition, the company, like other manufacturers in the automotive industry, was hit by a shortage of parts and a rise in inflation. Essential components, such as semiconductors, have been in short supply in recent months and at the same time the prices of raw materials such as nickel and aluminum have skyrocketed following Russia’s invasion of Ukraine. In mid-March, Tesla CEO and founder Alon Musk warned that inflation would lead to a rise in car prices.