We're analyzing the impact of the coronavirus on major businesses. Next up: $TSLA. Tesla is benefiting from hopes that it is nimbler than its Detroit peers to weather the virus' economic destruction.
This article is part of a series tracking the effects of the COVID-19 pandemic on major businesses, and will be updated. It was originally published on April 15.
Business in the age of COVID-19: Read profiles of how other large companies will be affected by the coronavirus However, there has been no word from Tesla about the effects of the COVID-19 pandemic since the company shut down much of its production in late March after resisting calls to close by local authorities. Investors will want to know how Model Y production and sales have been affected by factory stoppages and how Chief Executive Elon Musk believes the rest of the year will play out.Tesla did not rescind its guidance for the year of 500,000-plus deliveries in its first-quarter deliveries report.
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Unit sales: Tesla surprised markets earlier this month when it released first-quarter production and delivery data close to the FactSet consensus and even above the expectations of many analysts tracking the company. But also to the surprise of many, it didn’t reiterate or tweak its 2020 target to deliver more than 500,000 vehicles. Tesla announced temporary factory closures last month.
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