Tesla 1Q sales of 185K more than double last year’s numbers

The strong sales are a sign that demand for the company’s relatively expensive vehicles remains strong despite the pandemic. (Supplied)
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Updated 03 April 2021
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Tesla 1Q sales of 185K more than double last year’s numbers

  • The Model 3 small car and the Model Y accounted for nearly all of the Palo Alto, California, company’s first-quarter sales. Tesla said it sold 182,780 of both models combined

DETROIT: Tesla says it delivered nearly 185,000 electric vehicles in the first quarter despite a shortage of computer chips that has hit the global auto industry.
The number was more than double the deliveries for the same period last year. And it beat Wall Street estimates of 168,000 for January through March. The company says in a statement that the Model Y small SUV in China has been well received.
Tesla lists no production figures for its older models, the S sedan and X SUV, during the quarter, but it delivered just over 2,000 of them. It says new equipment has been installed at the Fremont, California, factory and production of new versions is in the early stages.




Right: Elon Musk sdf sdfdsf dsf dsfdsf dsf dsf dsf dsf. (AFP)

The strong sales are a sign that demand for the company’s relatively expensive vehicles remains strong despite the pandemic.
Shares of Tesla Inc. are down more than 9 percent so far this year as some of the shine wore off electric vehicle and tech stocks, which had experienced a big runup last year. The stock closed Thursday down just under 1 percent at $661.75.

SPEEDREAD

● The number was more than double the deliveries for the same period last year. And it beat Wall Street estimates of 168,000 for January through March.

● The company says in a statement that the Model Y small SUV in China has been well received.

● The strong sales are a sign that demand for the company’s relatively expensive vehicles remains strong despite the pandemic.

Wedbush analyst Dan Ives wrote in a note to investors that strong first-quarter sales should restore some positive momentum for Tesla’s stock and the electric vehicle sector.
Tesla has been the poster child for a “white knuckle” sell-off in tech stocks for the past few months, Ives wrote.
The Model 3 small car and the Model Y accounted for nearly all of the Palo Alto, California, company’s first-quarter sales. Tesla said it sold 182,780 of both models combined.
The sales came even though the company shut down its Fremont production for several weeks in late February and early March. It did not say why, but it’s likely that the company ran short of computer chips.


Qatar sees 81% surge in venture capital investment in 2025 

Updated 4 sec ago
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Qatar sees 81% surge in venture capital investment in 2025 

RIYADH: Venture capital investment in Qatar rose 81 percent year on year in 2025 to 214 million Qatari riyals ($58 million), new figures show. 

The annual venture capital report, issued by Qatar Development Bank in collaboration with research platform MAGNiTT, highlights the Gulf state’s growing role as an attractive investment hub in the Middle East and North Africa region. 

It indicated that venture activity in 2025 was concentrated in early-stage deals, which accounted for 61 percent of total investment value. 

This supports Qatar’s startup strategy aimed at building a knowledge-based economy, diversifying away from hydrocarbons, and achieving between 2 and 4 percent gross domestic product contribution from startups by 2033.  

The strategy includes fostering innovation, creating 40,000 new jobs, and establishing Doha as a regional hub for fintech, artificial intelligence, sports tech, and sustainability. 

Abdulrahman bin Hisham Al-Suwaidi, CEO of Qatar Development Bank, said: “At QDB, we continue our leading enabling role in venture capital in Qatar. Our direct and indirect investments and commitments through our investment arm have reached approximately 390 million riyals since its inception.”  

He added: “We are also proud of the remarkable progress achieved by the private sector, whose participation, alongside international investors, constituted 86 percent of the total value of venture capital investments in the country.” 

The CEO said QDB will continue strengthening Qatar’s regional and international standing as a destination for global investors and funds, supporting increased investment in priority sectors in line with the Third National Development Strategy 2024–2030.  

Qatar ranked fourth in the Middle East and North Africa region in both deal count and total venture funding in 2025, representing about 5 percent of regional transactions, the report said. QDB’s investment arm was the country’s most active investor, participating in 11 of 33 recorded deals. 

Fintech was the busiest sector by volume, accounting for 33 percent of transactions, up 22 percent from a year earlier, reflecting the impact of initiatives led by the Qatar Fintech Hub. Transport and logistics attracted the largest share of capital, raising 80 million riyals, a 716 percent increase driven by a small number of large transactions. 

Philip Bahoshy, CEO and founder of MAGNITT, said: “The report demonstrates the significant progress made by the venture capital sector in Qatar during 2025, highlighting the remarkable development Qatar is witnessing annually within the regional and global investment and entrepreneurial community.” 

He added: “This progress is evident both in terms of data and through the large-scale specialized events hosted by the country, most notably the Web Summit. QDB’s role in this regard is undeniable, as it has played a major role in supporting the venture capital ecosystem in Qatar.”