Tesla released its Q4 and full-year 2023 delivery results, reaching yet another milestone. Given that the Austin-based EV manufacturer expected to deliver 1.8 million vehicles by 2023, the automaker needed to deliver around 476,000 cars by the end of the year to reach its target.
On January 2, Tesla confirmed its Q4 2023 delivery and production results, securing it delivered 484,000 vehicles. Additionally, the automaker confirmed it produced a record number of 495,000 cars in Q4.
According to Garrett Nelson, senior analyst at the Center for Financial Research and Analysis (CFRA), “The fourth quarter is typically the strongest of the year in terms of deliveries for Tesla; we expect that to be the case again this year.”
The Results:
- For Teslas’ Model 3 and Y during Q4, the EV maker produced 476,777 vehicles and delivered 461,538.
- For other Tesla Models in Q4, it produced 18,212 vehicles while delivering 22,969 vehicles.
- For Tesla’s full-year production and delivery numbers, the EV maker produced 1.85 million vehicles and delivered 1.8 million cars.
However, automakers like Ford have retreated from their electrification plans due to the price war and slow demand for EVs. As a result, Tesla is now the evident EV leader in the U.S. and has seen its stock more than double this year.
Moreover, Musk stated in January that Tesla has the potential to deliver 2 million vehicles this year if “freaking force majeure” does not occur. But, in October, Musk warned about rising borrowing prices putting pressure on demand.
Going into 2024, the EV market leader will have to deal with the loss of federal tax credits for some of its vehicles in the U.S. and Germany, where the government is prematurely ending its EV subsidy program.
