Electric vehicle maker Tesla delivered 184,800 cars in the first quarter of this year, beating analysts’ estimates despite a shortage of chips that has hit the automotive industry worldwide.
Analysts were expecting the company to deliver nearly 168,000 vehicles in the three months to March 31, according to estimates compiled by FactSet. The world's biggest electric vehicle company also beat its previous record of 180,570 deliveries in the fourth quarter of last year.
"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 to the US Securities and Exchange Commission.
Tesla's stock closed almost 1 per cent lower at $661.75 per share on Thursday. The company's shares have climbed more than 540 per cent in the past 12 months.
Tesla has geared production towards its cheaper vehicles – Model 3 saloons priced from $33,690 and Model Y sports utility vehicles from $45,690 – to meet its sales target for 2021.
In the first quarter, it only produced Model 3s and Model Ys, and did not manufacture any of its more expensive Model S saloons and Model X SUVs, which are priced from $75,000. Instead, it sold Model S and Model X vehicles from its existing inventory. These made up just 1 per cent of first quarter sales.
Tesla, which joined the S&P 500 index in December, aims to deliver more than 750,000 cars this year.
The California-based company said it is still in the “early stages” of ramping up production of updated versions of both the Model S and Model X.
“The new Model S and Model X have also been exceptionally well received,” it said.
Global sales of EVs accelerated last year, rising 43 per cent to more than 3.2 million, according to Swedish data company EV-volumes.com. Tesla sold the most electric cars, delivering nearly 500,000 vehicles, followed by Volkswagen.
Tesla managed to increase deliveries despite a global shortage of semiconductors that has halted production at many car plants around the world.
Chinese EV maker Nio temporarily ceased operations for five working days last week at one of its factories in Anhui province because of a semiconductor shortage.
Last month, Detroit-based General Motors also extended production cuts in North America.
Semiconductors are extremely important components of cars, especially EVs. They are used to manage functions such as navigation, parking sensors and for monitoring engine performance.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
Types of fraud
Phishing: Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
Smishing: The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
Vishing: The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
SIM swap: Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
Identity theft: Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
Prize scams: Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
* Nada El Sawy
Where to Find Me by Alba Arikha
Alma Books
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
England ODI squad
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.
AGUERO'S PREMIER LEAGUE RECORD
Apps: 186
Goals: 127
Assists: 31
Wins: 117
Losses: 33
West Asia Premiership
Dubai Hurricanes 58-10 Dubai Knights Eagles
Dubai Tigers 5-39 Bahrain
Jebel Ali Dragons 16-56 Abu Dhabi Harlequins
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
How to turn your property into a holiday home
- Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
- Research equivalent Airbnb homes in your location to ensure competitiveness.
- Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
- Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
- Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
Ten10 Cricket League
Venue and schedule Sharjah Cricket Stadium, December 14 to 17
Teams
Maratha Arabians Leading player: Virender Sehwag; Top picks: Mohammed Amir, Imad Wasim; UAE players: Shaiman Anwar, Zahoor Khan
Bengal Lions Leading player: Sarfraz Ahmed; Top picks: Sunil Narine, Mustafizur Rahman; UAE players: Mohammed Naveed, Rameez Shahzad
Kerala Kings Leading player: Eoin Morgan; Top picks: Kieron Pollard, Sohail Tanvir; UAE players: Rohan Mustafa, Imran Haider
Pakhtoons Leading player: Shahid Afridi; Top picks: Fakhar Zaman, Tamim Iqbal; UAE players: Amjad Javed, Saqlain Haider
Punjabi Legends Leading player: Shoaib Malik; Top picks: Hasan Ali, Chris Jordan; UAE players: Ghulam Shabber, Shareef Asadullah
Team Sri Lanka Cricket Will be made up of Colombo players who won island’s domestic limited-overs competition
