Tesla beats estimates with record Q2 2023 production and deliveries

Tesla released their Q2 2023 production and delivery numbers this morning, and the automaker built on its successes in the first quarter, delivering and producing a record number of cars between April and June, beating Wall Street estimates in the process.

Tesla Q2 2023 Production

Tesla was able to produce an impressive 479,700 new cars, easily surpassing the 440,808 it built in the second quarter of the year, and a massive 85% increase from a year ago when in Q2 2022 the automaker produced 258,580 cars. Although that quarter was impacted by Covid related shutdowns in China.

The majority of units produced were Model 3 and Model Y vehicles, with 460,211 units built at Fremont, Giga Texas, Giga Berlin, and Giga Shanghai. Meanwhile, production of the flagship Model S and Model X in Fremont remained steady at 19,489, almost exactly the same as in Q1 when it built 19,437 units.

Tesla Q2 2023 Deliveries

Spurred on by discounts and incentives, Tesla crushed estimates, delivering 466,140 new cars globally in Q2 2023. That was well ahead of Wall Street which was expecting around 447,000 deliveries. This sets a new record for Tesla in terms of quarterly deliveries, beating the previous record set last quarter of 422,875.

While production of the S/X was almost the same from Q1 to Q2, deliveries were a different story as they nearly doubled from 10,695 to 19,225.

Tesla Q2 2023 Financial Results

Tesla also announced this morning they will publish their Q2 2023 financial results after markets close on  July 19 and host their live Q&A session later that afternoon at 4:30pm Central Time.

Tesla said in their press release this morning:

In the first quarter, we produced over 440,000 vehicles and delivered over 422,000 vehicles.

We continued to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC.

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