Tesla breaks records again in Q1

THERE seems no end to Tesla’ momentum – the Californian-based electric vehicle producer has set another quarterly delivery record despite ongoing market challenges.

For the first quarter of 2022, Tesla delivered 310,048 units – 68 per cent more than it achieved in the same period of 2021.

The production figures included some 295,324 Model 3 and Model Y variants, while the remaining 14,724 comprised of Model S and Model X variants. By contrast, Tesla produced 180,338 units between January 1 and March 31, 2021.

Money Transfers CEO Jonathan Merry said: “Tesla’s Q1 2022 performance is more impressive considering the testing environment it has been operating under.

“It has had challenges with supplies and the closures of its Shanghai plant. One would expect these to impact its numbers; if it has, it’s minimal, which speaks volumes of Tesla’s resilience.”

Tesla appears to stand alone in the US market where competitors including GM, Audi and Kia are in decline. General Motors delivered just 457 electric vehicles in Q1 2022 and recalled thousands of its Bolt electric models due to battery issues.

Conversely, BMW reported marginal gains in US sales across Q1, while Hyundai reported a massive 241 per cent increase in the sale of its battery-electric models.

Money Transfers says much of the production slowdown in the United States remains attributable to supply-chain bottle necks and microprocessor shortages related to the COVID-19 pandemic. Additionally, the prices of raw materials, including aluminium and nickel, plus Russia’s invasion of the Ukraine, are taking their toll on BEV production.

In the United States, these (and other) factors have led to new-car price hikes and a modest downturn in sales, but according to the publication, Tesla has weathered the storm better than most.

According to Money Transfers, the new Tesla facilities in Brandenburg and Gruenheide, Germany, and Austin, Texas – along with its corporate headquarters move to Austin, Texas, are “pivotal” parts of the firm’s expansion plans and will work to further “solidify Tesla’s market dominance”.

Locally, year-to-date sales of Tesla’s Model 3 set a record in the first quarter of 2022. The American company sold 4417 examples of its mid-size five-door model, bolstering strong March sales of 101,233 units – an increase of 1228 units on the same period last year.

The FCAI says those numbers point to an indication of Australia’s post-pandemic economic recovery and that the addition of Tesla and Polestar to the monthly VFACTS report brings some much-needed accuracy to its recording of electric vehicle sales.

FCAI CEO Tony Weber echoed the sentiments of Money Transfers earlier this month, saying manufacturers across the globe are working hard to match supply with demand.

“This is historically a unique time in which supply rather than demand is determining the size of the market,” said Mr Weber.

“This is due to manufacturers recovering from the pandemic-related shutdowns and the ongoing global shortage of micro-processing units. Consumer inquiries and demand for new cars remain strong. Manufacturers are working hard to match this demand with supply.”