Tesla Q1 2023: Deliveries Hit Record 422,875 Vehicles

Photo: Tesla

Tesla has just announced its Q1 2023 deliveries on Saturday morning and they hit a new record.

Tesla produced 421,371 Model 3/Y units and 19,437 Model S/X units. The company delivered 412,180 Model 3/Y vehicles and 10,695 Model S/X vehicles.

In total, production for Q1 was at 440,808 and deliveries at 422,875, from factories in Fremont in California, Giga Texas, Giga Berlin and Giga Shanghai.

Exactly one year ago on the same day, Tesla announced Q1 2022 deliveries, a record 310,000 and also 350,000 produced, amid ongoing supply chain challenges and COVID-19 factory shutdowns.

To put these numbers into perspective, Tesla produced 439,701 cars and delivered 405,278 vehicles in Q4 of 2022, the previous quarter.

Wall Street analysts such as Wedbush’s Daniel Ives, predicted Tesla would see around 420,000 deliveries, and it looks like the automaker surpassed this expectation. Refinitiv data’s analyst expectations were 430,008 vehicles, so it depends on how you’re looking at these numbers.

Head of Tesla Investor Relations, Martin Viecha, reacted to the numbers by saying, “Sequential growth continues even in the first quarter.”

The quarter saw the U.S. tax credit of $7,500 applied to eligible Tesla vehicles, while the automaker made drastic price cuts in most markets worldwide in January that spurred a price war.

Tesla saw growth of 4% in deliveries compared to Q4, while year-over-year, the growth was 36%. Check out the chart of deliveries shared below by Roland Pircher:

This pace of production if it were to stay the same for the rest of the year would result in 1.76 million cars for 2023. But with Giga Texas and Giga Berlin still ramping up, Tesla’s guidance of 1.8 million cars for 2023 may be easily reached and possibly surpassed.

Tesla will share its Q1 financial results for the first quarter of 2023 after market close on Wednesday, April 19, 2023.

…developing, more to follow