Photo: Tesla
Tesla is the first car company to release its Q2 2023 production and delivery figures. The EV maker produced and delivered a record number of cars between April and June, with 480,000 and 466,000, respectively. The numbers are better than most analysts expected, keeping Tesla on track to deliver over 1.8 million vehicles in 2023.
At the beginning of the year, when it announced 2022 results, Tesla said it expects to deliver over 1.8 million electric vehicles globally in 2023. Company's CEO Elon Musk was confident Tesla could even surpass that unless something terrible happened with the world's economy. After posting the second-quarter production and delivery numbers, it became clear that Tesla is on track to achieve those results. Tesla historically released its production and sales results within 48 hours after the quarter's end, and it didn't disappoint this time.
On July 2, Tesla announced that it produced 479,700 electric vehicles globally. This comes after a 440,808 production in the first quarter and represents a massive 85% increase over the second quarter of 2022 when it produced 258,580 cars. Most cars were Model 3 and Model Y, with 460,211 units built at Fremont, Giga Texas, Giga Berlin, and Giga Shanghai. Model S and Model X production remained stable at 19,489, almost identical to the Q1 result (19,437).
The discounts operated in the first quarter of the year worked their magic through the second quarter, allowing Tesla to beat the expectations regarding deliveries. Tesla delivered 466,140 new cars between April and June, well ahead of analyst estimates of around 447,000 units. It also beat the previous quarter's result of 422,875 vehicles, making it a new quarterly record. Compared to the second quarter of 2022, this year's result represents an 83% improvement. Tesla Model S/X deliveries accounted for 19,225 units, with the other 446,915 being Model 3/Y.
The difference between the production and deliveries is 13,560 cars, lower than the 18,000-unit difference reported in the first quarter. This indicates that Tesla managed to improve this performance, another indication that price cuts worked. Intriguingly, the Model 3/Y is responsible for the difference this quarter, whereas the Model S/X deliveries almost match production. In the first quarter, it was the other way around. It's the fifth quarter Tesla reports significantly fewer deliveries than it produced, reflecting the logistical challenges as it scales operations.
With roughly half a million vehicles delivered per quarter, Tesla should have no problems fulfilling its 2023 goal of 1.8 million deliveries. The auto market is heavily biased toward the second half of the year, fueling optimism. It should be noted that Tesla delivered roughly the same number of EVs in the first half of 2023 as it did in the first three quarters of 2022, an impressive result. The graphic showing historic delivery numbers for the second quarters also shows almost exponential growth.
Tesla announced it would report its second-quarter financial results after market close on July 19. Tesla management will hold a live question-and-answer webcast at 4:30 PM Central Time (5:30 PM Eastern Time) to discuss the company's financial results and outlook.
On July 2, Tesla announced that it produced 479,700 electric vehicles globally. This comes after a 440,808 production in the first quarter and represents a massive 85% increase over the second quarter of 2022 when it produced 258,580 cars. Most cars were Model 3 and Model Y, with 460,211 units built at Fremont, Giga Texas, Giga Berlin, and Giga Shanghai. Model S and Model X production remained stable at 19,489, almost identical to the Q1 result (19,437).
The discounts operated in the first quarter of the year worked their magic through the second quarter, allowing Tesla to beat the expectations regarding deliveries. Tesla delivered 466,140 new cars between April and June, well ahead of analyst estimates of around 447,000 units. It also beat the previous quarter's result of 422,875 vehicles, making it a new quarterly record. Compared to the second quarter of 2022, this year's result represents an 83% improvement. Tesla Model S/X deliveries accounted for 19,225 units, with the other 446,915 being Model 3/Y.
The difference between the production and deliveries is 13,560 cars, lower than the 18,000-unit difference reported in the first quarter. This indicates that Tesla managed to improve this performance, another indication that price cuts worked. Intriguingly, the Model 3/Y is responsible for the difference this quarter, whereas the Model S/X deliveries almost match production. In the first quarter, it was the other way around. It's the fifth quarter Tesla reports significantly fewer deliveries than it produced, reflecting the logistical challenges as it scales operations.
With roughly half a million vehicles delivered per quarter, Tesla should have no problems fulfilling its 2023 goal of 1.8 million deliveries. The auto market is heavily biased toward the second half of the year, fueling optimism. It should be noted that Tesla delivered roughly the same number of EVs in the first half of 2023 as it did in the first three quarters of 2022, an impressive result. The graphic showing historic delivery numbers for the second quarters also shows almost exponential growth.
Tesla announced it would report its second-quarter financial results after market close on July 19. Tesla management will hold a live question-and-answer webcast at 4:30 PM Central Time (5:30 PM Eastern Time) to discuss the company's financial results and outlook.
Tesla reports new production record of 479,700 and record deliveries of 466,140 for 23Q2. The growth in deliveries is 10% QoQ and 83% YoY. The Tesla fleet reaches 4.5m cars. $TSLA pic.twitter.com/wdXiLlBpTq
— Roland Pircher (@piloly) July 2, 2023
Tesla vehicle deliveries in Q2 over time: pic.twitter.com/xbaBAj4Y7s
— Sawyer Merritt (@SawyerMerritt) July 2, 2023
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