Tesla has announced record-breaking delivery numbers for the first quarter of 2023. According to a press release on April 2, 2023, the company produced over 440,000 vehicles and delivered over 422,000 in Q1 2023. This is a significant increase from the previous quarter, in which the company produced over 439,000 vehicles and delivered over 405,000.
Tesla Models Delivery & Production Numbers
The production and delivery numbers are broken down into two categories: Model S/X and Model 3/Y. In terms of production, the company produced 19,437 Model S/X vehicles and 421,371 Model 3/Y vehicles. As for deliveries, the company delivered 10,695 Model S/X vehicles and 412,180 Model 3/Y vehicles. These numbers demonstrate the continued success of Tesla’s Model 3/Y vehicles, the company’s most affordable electric cars.
It is also noteworthy that Tesla continues transitioning towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA (Europe, Middle East, and Africa) and APAC (Asia-Pacific). This shift in strategy has led to a further increase in cars in transit at the end of the quarter.
Tesla’s success in the first quarter of 2023 is particularly impressive, given the challenges the automotive industry faces due to the COVID-19 pandemic and supply chain disruptions. It also faces competition from other EV makes like BYD, Nissan, Toyota, Ford, etc. In China, which accounts for almost 60% of global EV sales, BYD is taking over rapidly. In response to this factor, EV giant Tesla has to cut prices for its popular models in China, Europe, the USA & Australia. Despite these obstacles, Tesla was able to achieve a record-breaking quarter in terms of production and deliveries.
Upcoming Earning Report
Looking ahead, Tesla will post its financial results for the first quarter of 2023 after the market close on Wednesday, April 19, 2023. Investors and analysts will be eagerly awaiting this update to see how the company has performed financially in addition to its impressive delivery numbers. Although the delivery numbers look good, tesla stock tanked more than 6% after the announcement. The reason is profitability since they have announced price cuts on several occasions. This brings investors to the quest of whether Tesla will meet their goal of YOY growth of 50%.
Tesla’s delivery numbers for the first quarter of 2023 demonstrate the continued success of the company’s electric cars, particularly the Model 3/Y. The company’s ability to produce and deliver vehicles despite the challenges faced by the automotive industry is a testament to Tesla’s resilience and innovative spirit. As the world continues to shift towards sustainable transportation, Tesla is well-positioned to lead the way in electric car production and innovation.