Tesla, the pioneering electric vehicle manufacturer, has released its production and delivery figures for the third quarter of 2023, revealing that it fell short of setting a new quarterly record by approximately 20,000 deliveries. With a total of 435,059 global deliveries encompassing the Model Y, Model 3, Model S, and Model X, Tesla’s performance in Q3 raised eyebrows, especially following its record-breaking Q2 2023, when it achieved 466,140 car deliveries.
Breaking down the Q3 2023 figures, Tesla reported 419,074 deliveries for the Model 3 and Model Y, while the combined deliveries for the Model S and Model X reached just 15,985.
On the production front, Tesla manufactured a total of 430,488 vehicles in Q3 2023. The majority of this production, 416,800 units, was attributed to the Model 3 and Model Y, with the Model S and Model X contributing 13,688 units to the total production figures.
Despite falling short of expectations, Tesla remains optimistic about its financial performance. The company stated, “In the third quarter, we produced over 430,000 vehicles and delivered over 435,000 vehicles. A sequential decline in volumes was caused by planned downtimes for factory upgrades, as discussed on the most recent earnings call. Our 2023 volume target of around 1.8 million vehicles remains unchanged.”
These factory upgrades included a pause in operations at Giga Shanghai to transition to the new Highland version of the Model 3 and some downtime at Giga Texas in preparation for the production of the highly anticipated Tesla Cybertruck.