Electric vehicle giant Tesla (TSLA) has set a new record for its first quarter delivery and production numbers, surpassing expectations and beating its previous record. With the recent drop in prices and expansion in production capacity, Wall Street had high hopes for the company’s Q1 deliveries.
Tesla has officially confirmed the figures, with over 440,000 vehicles produced and over 422,000 vehicles delivered in the first quarter of 2023. This has exceeded the analysts’ consensus of 420,000 vehicles delivered during the same period.
The company’s latest delivery numbers have exceeded its previous record of 405,000 vehicles achieved in the last quarter of 2022, which is a testament to the company’s continued growth and success.
However, there is still a gap of around 18,000 vehicles between the number of vehicles produced and delivered. Tesla has explained that this is due to the vehicles in transit as it strives to move away from the end-of-quarter delivery rush. The automaker is working towards a more balanced regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC.
Here’s the breakdown of Tesla’s Q1 2023 production and deliveries for each model:
Model S/X: 40,000 vehicles produced and 38,500 vehicles delivered
Model 3/Y: 400,000 vehicles produced and 384,375 vehicles delivered
Total: 440,000 vehicles produced and 422,875 vehicles delivered
Overall, Tesla’s Q1 delivery and production numbers have exceeded expectations and set a new record for the company. With the continued expansion of production capacity and ongoing efforts to improve delivery efficiency, Tesla is well-positioned to maintain its growth trajectory and dominate the electric vehicle market.
| dels | Production | Production | Subject to operating lease accounting |
| Model S/X | 19,437 | 10,695 | 10% |
| Model 3/Y | 421,371 | 412,180 | 5% |
| Total: | 440,808 | 422,875 | 5% |
