Tesla’s vehicle deliveries rose in the first quarter but fell short of Wall Street expectations as the company faced global supply chain disruptions and a brief shutdown of its Shanghai plant. .
“This quarter has been exceptionally difficult due to supply chain disruptions and China’s zero Covid policy,” Tesla CEO Elon Musk tweeted on Saturday.
Tesla employees and major suppliers “saved the day,” he added.
The electric car maker said it delivered 310,000 vehicles worldwide in the first three months of the year, up around 68% from the same period a year earlier. Deliveries remained roughly flat compared to the last quarter of 2021.
Tesla is massively ramping up production capacity to meet soaring demand, adding new factories as it tries to maintain shipment growth of 50% on average.
Like the rest of the auto industry, Tesla has also suffered from widespread spare parts shortages and inflation. Critical components like semiconductors remain in short supply, and prices for raw materials like nickel and aluminum rose after the outbreak of war between Ukraine and Russia in February. In the United States, Tesla makes its customers wait for months before fulfilling their car orders.