Tesla (TSLA) Delivers 466,000 EVs, Crushes Expectations

Tesla ( TSLA ) announced its production and delivery numbers for the second quarter of 2023, and the automaker crushed expectations by delivering more than 466,000 electric vehicles.

Earlier this week, we reported that Wall Street was expecting another record quarter for deliveries from Tesla with a consensus of 448,000 vehicles.

That’s up from Tesla’s previous record of 422,000 vehicles, which the automaker achieved in Q1 2023.

Today, Tesla released its official Q2 2023 delivery and production numbers.

The company confirmed that it delivered more than 466,000 vehicles in the quarter – significantly more than expected:

Production Distributions Operating leases are subject to accounting
Model S/X 19,489 19,225 8%
Model 3/Y 460,211 446,915 5%
Total 479,700 466,140 5%

Obviously, the Model 3 and Model Y are still the vehicle projects that drive Tesla’s sales and deliveries, but the Model S and Model X also seem to be recovering since the product refresh two years ago.

The number of vehicles added to freight and transport in the quarter was also lower than in recent quarters, with the number adding only 13,000 vehicles.

Tesla usually mentions vehicles in transit in its production and delivery press releases, but not this time.

This means that there are more vehicles in stock instead of traffic. Sources familiar with the matter told Electrek that Tesla fell under its delivery target for North America, which could explain this.

Tesla has delivered 888,000 vehicles in the first half of 2023, and will need less than 1 million vehicles in the second half to reach its guidance of 1.8 million vehicles delivered in 2023.

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Electrek’s Take

It was a great performance. Congratulations to all involved. Tesla now delivers nearly half a million vehicles per quarter.

There were many Nayanmars who did not see it coming.

While it has been one of the largest by valuation for some time, Tesla is becoming one of the largest automakers per unit, and it’s only doing so in electric vehicles. It’s incredible.

Now price cuts have helped Tesla achieve this feat this quarter. It will be interesting to see how badly this affects gross margin and whether Tesla can turn a modest profit on lower prices.

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