Tesla reported 466,140 deliveries for the second quarter, and production of 479,700 vehicles
In its second-quarter report for 2023, Tesla released a list of vehicles it has produced and delivered.
From the manufacturer of electric vehicles, here are the key numbers:
There were 466,140 deliveries in the second quarter of 2023
Production total: 479,700 units in Q2 2023
As a result of Elon Musk’s auto business adding manufacturing capacity, and ramping up production at its Austin plant, deliveries rose 83% year-over-year for Tesla.
It does not report individual model numbers or regions-specific numbers for Tesla deliveries.
Tesla produced more vehicles than it delivered in the second quarter of 2023 for the fifth consecutive period.
Last quarter, Tesla reported 254,695 deliveries, and in the first quarter of 2023, Tesla reported 422,875 deliveries. Tesla produced 258,580 vehicles in the second quarter of 2022, and 440,808 in the third quarter.
Among Tesla shareholders, deliveries are closely watched as they represent the closest approximation of the company’s sales.
Based on analyst estimates compiled by FactSet-owned Street Account, analysts expect Tesla to deliver 445,924 cars for the quarter ending June 30, 2023.
According to TroyTeslike, an independent researcher, deliveries were expected to be 448,000, and production to be 471,355.
In an effort to boost sales of Tesla’s cars in the U.S., CEO Elon Musk offered discounts and other incentives. Tesla’s Model 3 entry-level sedan and older Model X SUV, which represent a small percentage of overall sales for Tesla, were among the models that were sold during the quarter.
Under the Inflation Reduction Act, Model 3 and Y owners in the U.S. are now eligible for $7,500 in tax credits.
A total of 96% of Tesla’s deliveries in the second quarter of 2023 were Model Y crossovers, and Model 3 entry-level sedans.
A senior research analyst at Piper Sandler wrote on June 26 that Tesla’s prices have been stable on balance during the second quarter, based on the firm’s analysis. In the first quarter, the company’s steep discounts in and beyond China sparked accusations of a “price war”. For investors, Potter cautioned that “Price cuts in Q3, if any, could reignite margin concerns.”
Tesla currently operates assembly plants in Fremont, California, Austin, Texas, Shanghai, and Brandenburg, Germany (outside Berlin). Additionally, Sparks, Nevada, is home to the company’s Semi, a heavy-duty electric truck. Delivery of the Semi began in December 2022, but Tesla isn’t producing the trucks in large numbers just yet.
Musk announced in March that Tesla plans to build a new factory near Monterrey, Mexico, a day’s drive from its Austin, Texas facility. Musk also stated in June that Tesla was interested in investing in India “as soon as humanly possible.”
In North America, Tesla is expected to begin selling a partially revamped version of the Model 3. As part of Tesla’s annual shareholder meeting in May, Musk also announced that the company will deliver its first Cybertruck pickups in 2023 and is working on a new technology that will enable it to produce a more affordable electric vehicle in the future.
Sales may be pressured by newer, more affordable models, as well as rising competition, especially in China.
In a tweet ahead of the second-quarter deliveries report, Musk said: “Please advise people to be wary of margin loans.”. The Tesla stock has always been volatile, often without clear rhyme or reason. Long-term value creation is our top priority, but we cannot control the manic-depressive nature of the stock market.”
In advance of Tesla’s second-quarter deliveries report, shares closed at $261.77 on Friday. During the market close on Wednesday, July 19, 2023, the company will announce its second quarter financial results.