Tesla (TSLA) crushes expectations with deliveries of 466,000 electric cars
Tesla ( TSLA ) announced its production and delivery numbers for the second quarter of 2023, and the automaker has smashed expectations with deliveries of over 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 delivery and production numbers for Q2 2023.
The company confirmed that it delivered over 466,000 vehicles during the quarter – significantly higher than expected:
| Production | Deliveries | Subject to operational leasing accounting | |
| Model S/X | 19,489 | 19,225 | 8% |
| Model 3/Y | 460 211 | 446,915 | 5% |
| Total | 479,700 | 466.140 | 5% |
It’s clear that the Model 3 and Model Y remain the vehicle programs that drive Tesla’s sales and deliveries, but the Model S and Model X have also appeared to recover from the product update two years ago.
The number of vehicles in inventory and transit added during the quarter is also lower than in recent quarters, with only about 13,000 vehicles added to the number.
Tesla generally references vehicles in transit in its production and delivery press release, but it did not this time.
That could mean more vehicles are in storage instead of transit this time around. Sources familiar with the matter told Electrek that Tesla fell short of its delivery target for North America, which may explain this.
Tesla is now at 888,000 vehicles delivered during the first half of 2023, and will need less than 1 million vehicles delivered in the second half to achieve its guidance of 1.8 million vehicles delivered in 2023.
Electrek’s Take
It is a great achievement. Congratulations to all involved. It is wild that Tesla now delivers almost half a million vehicles per quarter.
There were many who did not say for a long time who did not see it coming.
Although it has been one of the largest by valuation for some time now, Tesla is on the way to becoming one of the largest automakers by volume, and it’s doing so with electric vehicles only. That is unbelievable.
Now, price cuts have helped Tesla achieve this record this quarter. It will be interesting to see how badly it hurt the gross margin and if Tesla can stay marginally profitable with the lower prices.
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