(CTN News) – During the second quarter of 2023, Tesla (TSLA) announced its production and delivery figures, and the automaker exceeded expectations by delivering over 466,000 electric vehicles, a record number.
In our earlier report this week, we reported that Wall Street was expecting another record quarter for Tesla vehicle deliveries, with a consensus of 448,000 vehicles being delivered.
This is up from previous record of 422,000 vehicles, which it achieved in Q1 of 2023, which was set by the automaker a year earlier.
In a press release today, Tesla announced the official numbers of its deliveries and production for Q2 2023.
Over 466,000 vehicles have been delivered by the company during the quarter, a significant increase over the number expected.
There is no doubt that the Model 3 and Model Y vehicle programs are still driving sales and deliveries, but the Model S and Model X models have also been showing signs of recovery since the product refresh two years ago.
With only about 13,000 vehicles added to the tally during the quarter, the number of vehicles in inventory and transit was also lower than in recent quarters, with only about 13,000 vehicles added to the tally during the quarter.
Tesla typically mentions vehicles in transit in its production and delivery press releases, but it did not do so this time.
It is possible that more vehicles are in inventory rather than in transit this time around. According to sources familiar with the matter, Tesla missed its North American delivery goal, which could explain the delay.
It is expected that Tesla will deliver less than 1 million vehicles in the second half of 2023 to reach its guidance of 1.8 million vehicles delivered in 2023. Tesla currently has 888,000 vehicles delivered during the first half of 2023.
Electrek’s perspective Tesla
I am impressed with the quality of your performance. My sincere congratulations go out to everyone involved. Tesla now delivers more than 500,000 vehicles per quarter, which I find fascinating.
The fact that this was going to happen did not surprise many naysayers in the past.
While Tesla has been one of the largest automakers from a valuation standpoint for a while now, it has recently become one of the largest from a volume standpoint, and it has done this using only electric vehicles as its medium of transportation. Those are incredible numbers. I can’t believe it.
Now that has cut its prices this quarter, it has achieved the record it set last quarter. There will be an interesting test to see if Tesla’s gross margins will suffer as a result of those lower prices, and can maintain a marginal profit even with those lower prices.