Tesla reported record global production of 479,000 units and record deliveries of 466,140 units in the second quarter of 2023. Tesla delivered a total of 460,211 Model 3 and Model Y vehicles and 19,489 Model S and Model X deliveries. Tesla’s price cut strategy in the US, China and other countries showed it helped boost sales, while in the second quarter, price drops affected the company’s profitability, reporting a 24 percent drop in net income compared to the same period a year ago.
American electric vehicle giant Tesla reached a record global production of 479 thousand units and a record delivery of 466 thousand 140 units in the second quarter of this year. The company, which broke the record for vehicle delivery, increased delivery by 10 percent compared to the previous quarter and by 83 percent compared to the previous year.
Tesla’s price cut strategy in the US, China and other countries showed that it helped increase sales, while in the second quarter, price drops affected the company’s profitability. Tesla reported a 24 percent drop in net income compared to the same period a year ago.
About half of Tesla’s record vehicle deliveries, the electric vehicle company owned by Elon Musk, likely came from Tesla’s Shanghai giga factory. Tesla delivered 75,842 Chinese-made electric vehicles in April and 77,695 in May.
Tesla delivered far more Model 3 and Y vehicles than the more expensive Model S and X vehicles. In total, Tesla delivered 460,211 Model 3 and Model Y and 19,489 Model S and Model X. Analysts and investors look to delivery numbers rather than production numbers, as they are indicative of actual sales figures that Tesla has not published.
The company said in a statement that Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be used as an indicator of quarterly financial results, which depend on a variety of factors such as cost of sale, currency movements and a mix of directly leased vehicles.