Tesla beats sales forecasts for strong car deliveries

Tesla Inc’s first-quarter revenue topped Wall Street expectations on Monday, after it reported a record three-month delivery earlier this month thanks to strong demand in China. .

The company had said it delivered a record 184,800 vehicles worldwide in the January-March quarter, beating market expectations.

Tesla said the first deliveries of the new Model S should begin shortly, while the production pace of the Model Y in Shanghai continued to improve rapidly.

The company said it was able to navigate the world’s chip supply shortage issues, in part because of a very rapid switch to new microcontrollers.

The automaker, led by billionaire businessman Elon Musk, said revenue rose to $ 10.39 billion from $ 5.99 billion a year earlier.

Analysts had expected revenue of $ 10.29 billion, according to IBES data from Refinitiv.