Tesla beats expectations with nearly 423K deliveries in Q1 2023

Tesla released their Q1 2023 production and delivery numbers this morning, setting new records for both metrics and setting the tone for what will undoubtedly be another record year.

Tesla Q1 2023 Production

With four factories operating around the world, Tesla was able to produce an impressive 440,808 new cars in the first three months of the year, a massive 44% increase from a year ago when in Q1 2022 the automaker produced 305,047 cars.

The majority of units produced were Model 3 and Model Y vehicles, with 421,371 units built at Fremont, Giga Texas, Giga Berlin, and Giga Shanghai. Meanwhile, production of the flagship Model S and Model X in Fremont reached 19,437 units in Q1 2023, down slightly from 20,613 in Q4 2021.

Tesla Q1 2023 Deliveries

On the delivery side, Tesla was able to set a new all-time high, with 422,875 vehicles delivered globally in Q1 2023, ahead of Wall Street which was expecting around 421,000 deliveries. This sets a new watermark for Tesla in terms of quarterly deliveries, beating the previous record set in Q4 2022 of 405,278 deliveries. It is also a significant 36% increase from the same period in 2021.

Tesla Q1 2023 Financial Results

Tesla also announced this morning they will publish their Q1 2023 financial results after markets close on April 19, 2023 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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