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Tesla delivers 422,875 vehicles in Q1 2023

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Tesla delivers 422,875 vehicles in Q1 2023

On Sunday, Tesla released its report on vehicle production and deliveries for the first quarter of 2023. According to the report, the electric vehicle manufacturer delivered a total of 422,875 vehicles during the first quarter of 2023. The report also revealed that Tesla produced 440,808 vehicles during the same period. It is worth noting that Tesla does not disclose delivery figures by individual model or region and considers deliveries to be the closest approximation of sales.

The figures for the first quarter show a 36% surge in deliveries as compared to the 310,048 deliveries reported in the same period last year, with a 4% rise in deliveries sequentially as compared to the 405,278 reported by the company in the last quarter of 2022.

The electric vehicle maker delivered 10,695 units of its premium Model S and X vehicles during the first quarter of 2023, accounting for approximately 2% of the total deliveries in the quarter. Meanwhile, the company delivered 412,180 units of its more affordable Model 3 sedan and Model Y crossover.

Tesla did not disclose the production and delivery figures for its heavy-duty Semi trucks in its first-quarter report. The company stated that it produced 19,437 units of Model S and X vehicles and 421,371 units of Model 3 and Y vehicles until March 31, 2023. In a statement released on Sunday, Tesla mentioned that it is gradually shifting to a more balanced regional distribution of vehicle production.

Tesla’s current lineup includes four models that are manufactured at two vehicle assembly plants in the United States, one in Shanghai, and another one located outside of Berlin. In March, the CEO of the company, Elon Musk, announced that they plan to build a new factory in Monterrey, Mexico, which will be located a day’s drive away from its factory in Austin, Texas.

The Semi, a heavy-duty truck produced by the company, is manufactured at its battery plant located in Sparks, Nevada. Deliveries of the Semi began in December of 2022.

Ahead of Tesla’s Q1 2023 vehicle production and delivery report, analysts’ estimates compiled by FactSet as of Friday suggested that Wall Street was expecting deliveries of around 432,000 vehicles for the quarter. The FactSet analysis included estimates that ranged from 410,000 to 451,000 deliveries.

The individual researcher known as TroyTeslike predicted that Tesla would deliver 427,000 vehicles and produce a total of 445,920 vehicles for the first quarter of 2023. During this quarter, Tesla made multiple price cuts in the U.S., Europe, and China.

Tesla’s recent price cuts in the first quarter of 2023 triggered a “price war” in the EV market, which has become a challenge for its competitors, such as Ford and General Motors, in the domestic fully electric vehicle market. Despite this, Tesla’s shares rose more than 60% in the first quarter and closed at $207.46 on Friday, ahead of the company’s production and delivery report.

About Vijendra

Vijendra
Vijendra has a master’s degree in Marketing and editor with passion. Exploring economic policies of different economies and analyzing geo-politics policies is of keen interest. In his free time he is a hardcore metal-rock and punk music fanatic.

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