Tesla released their fourth-quarter vehicle production and delivery numbers for 2023. In October's third-quarter earnings call, CEO Elon Musk declared that the Model Y would likely become "the number one car on the planet, not only in terms of revenue, but in unit volume," during this year. Beforehand, the company stated that at least 1.8 million vehicles would be delivered during the entire year of 2023.
Tesla recently released its fourth-quarter vehicle production and deliveries report for 2023. The key figures are as follows: Total deliveries Q4 2023: 484,507 Total production Q4 2023: 494,989 Total annual deliveries 2023: 1,808,581 Total annual production 2023: 1,845,985 This is an increase from 2022, where the firm reported annual deliveries of 1.31 million and production of 1.37 million electric vehicles. This represents a 38% year-over-year growth in deliveries and a 35% increase in production compared to 2022.
In October 2023, Tesla executives gave guidance that the company would achieve at least 1.8 million deliveries for the full year, which was revised down from an earlier goal of 2 million. According to analysts' estimates compiled by StreetAccount as of Dec. 28, Tesla was expected to report deliveries of 477,000 for the quarter.
Within the fourth quarter, Tesla produced 476,777 Model 3 and Model Y vehicles and reported 461,538 deliveries for these models. It also produced 18,212 other models and delivered 22,969 during this period. Near the end of the year, Tesla began deliveries of a limited number of its flagship vehicle, the Cybertruck, in addition to releasing its refreshed Model 3 entry-level sedan in select markets.
In order to cope with a difficult economic climate, Tesla slashed prices throughout the quarter. Additionally, the firm began advertising campaigns - a shift away from its traditional marketing strategy of events, giveaways, and social media influencers.
Tesla operates two vehicle assembly plants in the U.S. and two overseas, in Shanghai and Brandenburg, Germany. It also has a battery factory in Sparks, Nevada, and other factories for spare parts, charging equipment, and energy storage. The company plans to open another car plant in Nuevo León, Mexico, in the near future.
When asked about the outlook for 2024 deliveries, Tesla CEO Elon Musk said that there would be rapid growth, far greater than any other car company on Earth. Vaibhav Taneja, Tesla's CFO, mentioned that they would focus on "growing our volumes in a very cost-efficient manner" and that they would provide guidance for 2024 on their next earnings call. Tesla will address fourth-quarter results on Jan. 24, 2024 at 5:30 p.m. ET.
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