Tesla has announced its Q1 2023 production and delivery numbers, confirming that the company has set a new record for both categories, beating Wall Street's expectations. The automaker's Q1 delivery numbers were confirmed at 422,875 vehicles, exceeding analysts' consensus of about 420,000 vehicles delivered during the first three months of 2023. In terms of production, Tesla revealed that it produced over 440,000 vehicles in Q1, marking a new record for the company and surpassing its previous record of 405,000 vehicles achieved in the last quarter of 2022.
One interesting detail that stood out in Tesla's announcement was the ~18,000-vehicle gap between the number of vehicles produced and delivered in Q1. Tesla explained this discrepancy by stating that the company is moving away from end-of-quarter delivery waves and transitioning towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC.
Tesla's record-breaking Q1 numbers can be attributed to a recent price drop and ramp-up in production capacity. Wall Street had high expectations for the automaker's Q1 deliveries, and Tesla's ability to exceed those expectations is likely to further boost investor confidence in the company. The electric vehicle market has become increasingly competitive in recent years, but Tesla's continued growth and success suggest that the company remains a major player in the industry.
Source: Electrek
