Over the weekend, Tesla announced its vehicle production and delivery numbers for the first quarter of 2023. In the first quarter, Tesla produced over 440,000 vehicles and delivered over 422,000 vehicles. Plus Tesla continued to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC.
Below are the specific numbers:
Tesla Model S / Model X production for Q1 2023: 19,437
Tesla Model 3 / Model Y production for Q1 2023: 421,371
Total Tesla vehicle production for Q1 2023: 440,808
Tesla Model S / Model X deliveries for Q1 2023: 10,695
Tesla Model S / Model Y deliveries for Q1: 2023: 412,180
Tesla total vehicle deliveries for Q1 2023: 422,875
Tesla Model S / Model X subject to operating lease accounting for Q1 2023: 10%
Tesla Model 3 / Model Y subject to operating lease accounting: 5%
Tesla total vehicles subject to operating lease accounting: 5%
Tesla is going to post its financial results for the first quarter of 2023 after the market close on Wednesday, April 19, 2023.
Even though Tesla saw a company record for deliveries, the company shares fell as the production totals were below analyst estimates along with what CEO Elon Musk was predicting.
Back in January, Musk said that the internal production potential was nearly 2 million vehicles for 2023 – which was up from 1.3 million last year. Tesla was aiming to grow the deliveries by 50% in 2022 to 1.4 million and analysts were estimating to see the company hit 1.8 million.
Based on the total numbers, the company saw a 36% year-over-year increase and a 4% increase from the previous quarter. Earlier this year, Tesla dropped the prices of the Model S and Model X by up to $21,000. And the prices were reduced again in early March.
“If they (would not have) done the price cut, it would have been ugly. I think what it tells you is the economy is getting tough,” said Deepwater Asset Management managing partner Gene Munster in a research report. “They showed an acceleration, but they didn’t accelerate to the level that Elon had suggested it would.”
