After cutting the price of its vehicles, Tesla released its Q1 2023 production and delivery figures. Which confirm that both hit new records and exceeded expectations.
The general belief among analysts was that 420,000 vehicles would be shipped in the first quarter of 2023. Today, Tesla disclosed the findings of its official production and delivery. With 422,875 vehicles delivered in Q1, the automaker said “we manufactured over 440,000 vehicles and delivered over 422,000 during the first quarter.”
The deliveries show an increase of 4% from the previous quarter and 36% higher than in the same quarter a year prior.
In comparison to the prior quarter, Tesla shipped 6% more of its popular Model 3/Model Y vehicles in the first three months. However, deliveries of its more expensive Model X/Model S cars fell by 38%.
The automaker exceeded the previous mark it set in the previous quarter of 405,000 vehicles. (Q4 2022). As Tesla tries to move away from end-of-quarter delivery waves, Tesla again provides an explanation for the 18,000 vehicle gap between vehicles made and delivered.
As production recovered from a COVID-19 lockdown hit, Tesla increased output at new factories in Texas, Berlin, and China. While the automaker claimed in February that its German plant was producing 4,000 vehicles a week, the company tweeted on Sunday that its Texas factory constructed 4,000 Model Y cars last week.
Meanwhile, Tesla keeps moving toward a more balanced regional blend of model builds, including the Model S/X cars currently being shipped to EMEA and APAC.
Models: Production: Production: Subject to operating lease accounting
Model S/X: 19,437 10,695 10%
Model 3/Y: 421,371 412,180 5%
Total: 440,808 422,87 5%
Elon Musk predicted in January that deliveries in 2023 could increase to 2 million vehicles without external disruption, up from 1.3 million in 2022, despite missing his own ambitious sales goals in recent years.
Meanwhile, since Musk said little about when the EV manufacturer might introduce a more reasonably priced, mass-market vehicle on March 1, the companies shares have dropped.
