Tesla stock soared 17% in after hours trading on Friday following the release of recorder first quarter deliveries for Q1 2020 on Thursday.

Tesla said more than 88,000 electric vehicles in total were delivered in the first quarter, 76,200 of which were Model 3 sedans and Model Y crossovers, with the remaining 12,200 made up by Tesla’s premium Model S sedan and Model X SUV.

“This is our best ever first quarter performance,” the company said in its press release.

Year-on-year its deliveries have been growing 40%, compared with a 35% decrease for the overall US auto market, analyst for disruptive investment firm Ark Invest, Sam Korus noted on Twitter.

At the time, Tesla expected there would be some impact on first quarter production and sales, in part due to traditionally slow starts to the year for the auto industry at large, but also due to a forced temporary closure of its newly opened Shanghai Gigafactory 2 to assist in curtailing the spread of the novel Coronavirus in China.

With the announcement of Tesla’s 1 millionth vehicle made – a Model Y – on March 10, Credit Suisse analyst Dan Levy estimated production for the quarter would exceed 100,000.

In fact it beat that with 103,000 vehicles produced, despite announcing on March 19 that it would shutdown the Fremont factory. Almost 103,000 units produced, made up by 87,282 Model 3s and Model Ys, which the EV maker had commenced producing in January and started delivering in mid-March.

JMP Securities’ Joseph Osha predicts annual deliveries by Tesla will be 433,000 for 2020 but also believes it will rebound in 2021.