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Tesla Soars as Deliveries Beat Amid ‘Best Ever’ 1Q Production

Published 02/04/2020, 21:14
Updated 02/04/2020, 21:28
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By Yasin Ebrahim 

Investing.com - Tesla surged in after-hours trading on Thursday after its first-quarter deliveries topped analysts estimates, with the electric automaker hailing its "best ever" first quarter of production, despite coronavirus-led disruptions.

Tesla (NASDAQ:TSLA) was up 10% after the report.

Tesla said it had delivered about 88,400 in the first quarter of 2020, markedly up from 63,000 vehicles delivered a year earlier, and above analysts' expectations for 79,908.

The beat on deliveries arrived as the company said it had a record first quarter, producing 102,672 vehicles as the Shanghai factory continued to achieve record levels of production, even as the Covid-19 outbreak hurt output. 

Model Y production got underway in January and deliveries started in March, ahead of schedule, the company said. 

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