Tesla just released their second-quarter vehicle production and delivery report for 2023. Sales can be estimated by looking at the company's delivery figures, and the second quarter of 2023 was the fifth period in a row that Tesla showed increased production over deliveries.
Tesla released their second-quarter vehicle production and delivery report for the year 2023 on Sunday, showing a total of 466,140 deliveries and 479,700 vehicles produced which beat estimates. Deliveries rose 83% year-over-year, due to increased manufacturing capacity and ramped up production at the company's assembly plant in Austin, Texas. Whilst Tesla do not release individual model or region-specific numbers, the second quarter marked the fifth consecutive period that production surpasses deliveries. Last year, Tesla recorded 254,695 deliveries for the same quarter, and 422,875 in the quarter prior.
The majority of Tesla's second quarter deliveries included their Model Y crossover and Model 3 entry-level sedan, with a small proportion of Model X and S sales. Discounts and incentives, such as the $7,500 federal tax credit, were offered by Tesla in Q2 to generate sales figures. According to Piper Sandler senior research analyst Alexander E. Potter, prices remained stable over the quarter with no further discounts, although Potter warned of a potential decline in profits should any occur in Q3.
Tesla have their main assembly plants in Fremont, California, Austin, Texas, Shanghai and Brandenburg, Germany, and commenced deliveries of their Semi heavy-duty electric truck in December 2022. Meanwhile, the company announced plans to construct a new factory near Monterrey, Mexico and also intend to make an investment in India. Tesla will begin selling a modified version of the Model 3 in North America this year, and aim to deliver the Cybertruck in 2023.
CEO Elon Musk took to Twitter before Sunday's report to advise that Tesla shareholders should be aware of the 'manic-depressive nature of the stock market'. Tesla shares closed at $261.77 on Friday and the company will provide financial details following the market close on Wednesday 19 July.
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