Tesla (TSLA Quick QuoteTSLA - Free Report) is up 75% so far this year, appearing to defy logic. The global pandemic has hammered the broader automotive industry but leaving Tesla relatively unscathed. Ford (F Quick QuoteF - Free Report) , Fiat , and GM (GM Quick QuoteGM - Free Report) are suffering from significant supply chain issues and a demand halt.

Demand for Tesla vehicles remains strong amid the global pandemic. In Q1, Tesla was able to produce 100,000 vehicles and delivered 88,400. These figures were substantially above expectations and added fuel to TLSA’s recent rally.

The Shanghai Gigafactory is operating ahead of expectations. Tesla vehicle registration in China jumped 450% between February and March.

Its direct-to-consumer business model gives the company more flexibility amid this pandemic. Tesla is shifting the automotive world to an industry driven by technology. TSLA is well on its way to becoming the largest publicly traded automaker (by market cap) with only one more company to pass: Toyota (TM).

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