Tesla delivered more than 466,000 EVs

With deliveries of more than 466,000 electric vehicles, Tesla has surpassed expectations with its production and delivery records for the second quarter of 2023.

We noted earlier this week that Wall Street was anticipating a record-breaking quarter for Tesla deliveries, with a consensus of 448,000 vehicles.

This surpasses Tesla’s previous record of 422,000 vehicles, set in the first quarter of 2023.

Tesla officially announced its Q2 2023 manufacturing and delivery figures today.

Over 466,000 automobiles were delivered during the quarter, more than double the anticipated number, according to the company:

	Production	Deliveries	Subject to operating lease accounting
Model S/X	19,489	19,225	8%
Model 3/Y	460,211	446,915	5%
Total	479,700	466,140	5%

Tesla’s sales and deliveries are still mostly driven by the Model 3 and Model Y, but the Model S and Model X have also appeared to rebound since the last model revision two years ago.

With only roughly 13,000 vehicles added to the total during the quarter, the number of vehicles in inventory and transit is also fewer than in recent quarters.

Normally, Tesla makes mention of automobiles in transit in its press release on production and delivery, but not this time.

It might imply that more autos are currently in storage rather than being transported. According to sources with knowledge of the situation, Tesla missed its delivery target for North America, which would account for this.

As of right now, Tesla has delivered 888,000 vehicles during the first half of 2023. To meet its guidance of 1.8 million deliveries in 2023, Tesla will only need to deliver less than 1 million vehicles during the second half.

It was a fantastic performance. Congratulations to all involved. It’s incredible that Tesla is already delivering close to 500,000 automobiles every three months.

For a very long time, there were many critics who failed to predict that.

Tesla is rapidly overtaking other top manufacturers in terms of production volume, despite already being among the biggest in terms of valuation for some time. That’s amazing.

Price reductions have now assisted Tesla in setting this record this quarter. It will be fascinating to see how much the gross margin was impacted and whether Tesla can continue to be just barely profitable at those lower prices.