The company announced that Tesla delivered 422,875 electric cars to customers during the first quarter 2023. This includes 412,180 Model 3 vehicles and Y vehicles, and 10,695 Model Ss and Xs. That’s a 36 percent year-over-year increase versus the first quarter of 2022, a 4 percent increase from last quarter, and a record for the company, US and Europe. These cuts have had an impact on various models within Tesla’s product range. For example, Tesla cut the price of its long-range Model Y variant by 20% in January.
The news of the deliveries comes following a turbulent period for Tesla’s share prices, which fell from more than $360 per share in April to around $113 at 2023’s beginning (it was trading at close to $200 less recently). There are many challenges, including the possibility of a slowdown in demand, increased competition from legacy automakers, as well as an aging line of consumer vehicles that has remained relatively static since the introduction the Model Y in 2020.
However, Tesla has been increasing its production. According to TechCrunch , around half of Tesla’s Q1 vehicles may have been manufactured in the Shanghai factory. This Shanghai factory was opened in 2019. In March and April of last year, the company opened two new factories near Berlin, and in Texas. Production is also increasing. A new factory is also being planned in Monterrey (Mexico), Tesla announced last month.
Elon Musk , Tesla CEO, stated in January that 2 million vehicles are the company’s goal in 2023. This is up from 1.3million in 2022. However, the 1.3 million figure is , which was a missed target for Tesla. It had hoped to increase its delivery by 50% to 1.4million last year. Analysts were hoping for closer than 1.8 million deliveries.
These numbers are for Tesla’s consumer cars. There were no production or delivery numbers for Tesla’s Tesla Semi truck. It began delivering its products last December. The long-awaited Tesla Cybertruck could be manufactured in the summer. mass production will ramp up next year and there is also expected to be a new Roadster shipping.