# Tesla China demand fuels ‘home run’ quarter for deliveries | Tech News (HT Tech) > Tesla Inc.’s estimate-smashing deliveries of electric vehicles in the first quarter suggest boss Elon Musk’s bet on growth in China and Europe is starting to pay off. # Tesla China demand fuels ‘home run’ quarter for deliveries ## Tesla Inc.’s estimate-smashing deliveries of electric vehicles in the first quarter suggest boss Elon Musk’s bet on growth in China and Europe is starting to pay off. Aug 21 2022, 16:18 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Tesla recently refreshed the Model S sedan and the X, an SUV. No Model S and X vehicles were made in the quarter, and only 2,000 were delivered in total. REUTERS/Lucas Jackson/File Photo](https://images.hindustantimes.com/tech/img/2021/04/05/1600x900/2021-04-02T145333Z_2_LYNXMPEH310F1_RTROPTP_3_USA-STOCKS-TESLA_1617587955306_1617587966900.JPG) Tesla recently refreshed the Model S sedan and the X, an SUV. No Model S and X vehicles were made in the quarter, and only 2,000 were delivered in total. REUTERS/Lucas Jackson/File Photo (REUTERS) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By BLOOMBERG The results marked a strong start to a year in which Musk, the company’s chief executive officer, is counting on global operations to help scale-up production and sales. Palo Alto, California-based Tesla delivered 184,800 cars worldwide in the year’s first three months, trouncing the 169,850 average estimate in a Bloomberg survey of analysts and beating the fourth-quarter figure by about 4,000 vehicles. The quarter was “a massive home run in the eyes of the bulls,” Dan Ives at Wedbush wrote in a research note Friday. “We believe China and Europe were particularly robust this quarter as the trajectory now puts Musk & Co. to exceed 850k for the year which is well ahead of whisper expectations.” Musk is pushing into China -- already the world’s largest automotive market, including for EVs -- to gain a foothold amid competition from local electric-vehicle startups as well as Volkswagen AG. Auto sales are forecast to rise in the nation this year for the first time since 2017, and in March, Premier Li Keqiang told the National People’s Congress the government will help boost the number of EV charging stations and battery-swapping facilities. Also read click here. Tesla’s volume stands apart from most other automakers, who are mainly showing declines in part because of electronic-chip constraints, analysts at Jefferies said in a research note. “Shares should respond well to the Q1 delivery data.” After a remarkable run in 2020 that saw its stock price surge by more than 700%, Tesla’s shares fell roughly 6% this year through April 1. Friday was a market holiday in the U.S. “It’s been a brutal sell-off for Tesla and EVs, but we believe that will now be in the rear view mirror,” wrote Ives, who maintained a “neutral” rating on the shares. ‘Strong Reception’ Tesla recently refreshed the Model S sedan and the X, an SUV. No Model S and X vehicles were made in the quarter, and only 2,000 were delivered in total. “We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity,” Tesla said in a statement. The new Model S and Model X have also been “exceptionally well-received,” the company said, adding that it’s in the early stages of ramping production. Cowen & Co. raised its Model Y forecasts for this year off the back of the robust numbers. “Receptivity to the Model Y in China was always a gray area in our minds, since there was never disclosure on deposit/interest levels from Tesla,” analysts led by Jeffrey Osborne wrote in an April 4 report. “Given the upside in 1Q21 coupled with the positive tone in the release, we are raising our Model Y forecasts for 2021 and would expect the Street to do so as well.” ALSO READ: Tesla's Chinese rival Nio suspends production on chip shortage Osborne added that production at 180,338 for the quarter was pleasing, “suggesting that the lingering semiconductor shortage plaguing other auto OEMs is not affecting Tesla in a big way despite the two shutdowns at Fremont in February.” Tesla currently makes the Model S and X only at its factory in Fremont, California, and the smaller Model 3 and Y both there and at its plant in Shanghai. It plans to build two more factories this year, one in Texas and another near Berlin. The company doesn’t break out sales by geography, but the U.S. and China are its largest markets and nearly all the sales were of the Model 3 and Y. With production at the Fremont factory temporarily shutting in February over parts supply issues, Tesla’s higher-margin Shanghai plant will account for a bigger share of volume in the quarter, which should support profitability, Jefferies said in the note. Chief Financial Officer Zachary Kirkhorn warned in January that production would be low due to the transition to the revamped products, while the global semiconductor shortage and delays at ports were also expected to weigh on the quarter. Tesla said its delivery count should be viewed as slightly conservative and final numbers could vary by as much as 0.5% or more. The quarterly delivery figure is widely seen as a barometer of demand for both Tesla’s vehicles and consumer interest in electric vehicles worldwide as legacy automakers roll out electric cars of their own. By Dana Hull and Yueqi Yang Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel. 05 Apr, 07:33 IST tesla elon musk ![HT Tech Awards](https://tech.hindustantimes.com/ht-tech-power-list-awards-2026/httech-awards-banner-new.webp) ### Related Stories 07 Oct 2026 71,617,587,905,988 NEXT ARTICLE BEGINS ![View all](https://images.hindustantimes.com/tech/static/revamp/images/png/view-all-icon.png) ## Tips & Tricks ![Ghibli-style art](https://images.hindustantimes.com/tech/img/2025/03/28/414x233/ChatGPT_Ghibli_style_images_1743161814450_1743161814596.jpg) ### How to turn your photos into Ghibli-style art with ChatGPT for free: Step-by-step guide ![How to create an invitation using iPhone’s new Apple Invites app- Step-by-step guide](https://images.hindustantimes.com/tech/img/2025/02/14/414x233/invites_1738728829564_1739543695649.png) ### How to create an invitation using iPhone’s new Apple Invites app- Step-by-step guide ![Apple TV app arrives on Android phones and tablets: What you get and how to install it](https://images.hindustantimes.com/tech/img/2025/02/13/414x233/unnamed_1739426557335_1739426567634.jpg) ### Apple TV app arrives on Android phones and tablets: What you get and how to install it ![Vodafone Idea OTT plans](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Vodafone Idea users can now stream 17 OTT apps with one subscription: Here's how ![Android data transfer methods](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### How to transfer data from one Android to another using Google backup, USB-C cable, and more ## Editor’s Pick ![iPhone 16e launched with A18 chip, Apple AI—bringing flagship power on a budget: Check specs, price](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iPhone 16e launched in India: All details about the new budget mobile from Apple ![DeepSeek was founded in China with only a fraction of the budget of the top AI companies in the US.](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### DeepSeek AI: How it works, who’s behind it, how it’s different from ChatGPT, and its big US market impact explained ![iPhone 17 Air likely to get this feature that iPhone 17 Pro models may miss out on](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iPhone 17 Air likely to get this feature that iPhone 17 Pro models may miss out on ![Google Whisk AI explained: How remixing works, availability, and how it differs from Gemini](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Google Whisk AI explained: How remixing works, availability, and how it differs from Gemini ![iOS 18.4 beta arriving soon: Know why it is the biggest iPhone update](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iOS 18.4 beta arriving soon: Know why it is the biggest iPhone update ## Trending Stories ![Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order ![Infinix Note 50s 5G+](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Infinix Note 50s 5G+ set to launch in India with 64MP camera and MediaTek Dimensity 7300 SoC ![Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more ![Apple Intelligence AI training](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Apple plans to train AI using your on-device data without accessing personal content or emails: Report ![CMF Buds 2](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### CMF Buds 2 key features and price revealed ahead of April 28 launch: Details inside keep up with tech ![Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-facebook.png) ![Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-twitter.png) ![WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-whatsApp.png) ![Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-facebook.png) ## Gaming ![Check out these five gaming monitors under ₹20,000,](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Top 5 gaming monitors under ₹20000 you should consider ![gaming consoles](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Grab gaming consoles at discounted rates during Amazon Great Indian Festival: Up to 72% off ![Pokémon GO Wild Area 2025](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Pokémon GO Wild Area 2025 to bring Grimmsnarl family, Shiny Hatenna, and global challenges ![Shade Silver](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Shade Silver free on Steam for a limited time: Here’s how to get it ![Call of duty](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Call of Duty: Black Ops 7 skips Switch 2 at launch, release date and price leak ![View all](https://images.hindustantimes.com/tech/static/revamp/images/png/view-all-icon.png) ## Trending News ### Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order ![Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order](https://images.livemint.com/static/static/1x1_img.gif) ### Infinix Note 50s 5G+ set to launch in India with 64MP camera and MediaTek Dimensity 7300 SoC ![Infinix Note 50s 5G+](https://images.livemint.com/static/static/1x1_img.gif) ### Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more ![Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more](https://images.livemint.com/static/static/1x1_img.gif) ### Apple plans to train AI using your on-device data without accessing personal content or emails: Report ![Apple Intelligence AI training](https://images.livemint.com/static/static/1x1_img.gif) ### CMF Buds 2 key features and price revealed ahead of April 28 launch: Details inside ![CMF Buds 2](https://images.livemint.com/static/static/1x1_img.gif) ## Trending Gadgets Mobiles Laptops Tablets ![HT Tech](https://images.hindustantimes.com/tech/static/revamp/images/png/HT_tech-new.gif) - https://tech.hindustantimes.com/tech/news/tesla-china-demand-fuels-home-run-quarter-for-deliveries-71617587905988.html