Tesla released Q1 production and delivery numbers on April 2nd.
| Model | Production | Delivery | Lease |
| Model S/X | 19,437 | 10,695 | 10% |
| Model 3/Y | 421,371 | 412,180 | 5% |
| Total | 440,808 | 422,875 | 5% |
Both numbers are quarterly records for the electric vehicle maker. Tesla delivered 405,278 in the fourth quarter of 2022 and produced 439,701 units. Those were the previous quarterly records.
Wall Street was looking for about 420,000 units delivered over the first three months of 2023.
The production and sales numbers were both a little better than people expected.
Price cuts
Tesla cut prices in China first, in early January with the Chinese-made Model 3 falling by 13.5%, and the Model Y cut by 10%. Tesla then cut prices in the U.S., with the Model 3 RWD falling by 6.4%, and the Model Y Long range dropping by nearly 20%.
Tesla reduced the cost of its Model 3 and Model Y in January 2023, lowering their prices by around £7,000 each. Prices for a factory-ordered Model 3 start from £42,990, while the Model Y is priced from £44,990.
Sales in the U.S. were given an even bigger boost when the IRS in early January allowed all versions of the Model Y to fall under the $80,000 MSRP price limit for tax credit eligibility. It had been reported since then that production wait time for the Model Y pushed out considerably after the IRS ruling.
Returning to deliveries, Tesla CEO Elon Musk said during the company’s Q4 earnings call that he expected Tesla to deliver 1.8 million vehicles for the year, and if there aren’t any production hiccups, that 2 million deliveries would be achievable. The company also indicated its highly-anticipated Cybertruck would enter production in the back half of 2023.
Tesla will post its financial results for the first quarter of 2023 after market close on Wednesday, April 19, 2023
See Tesla IR page
