In the second quarter of 2023, Tesla exceeded market expectations by manufacturing and selling more cars than predicted. The company’s own figures show that they produced almost 480,000 electric cars, with over 466,000 being delivered. This outcome was likely due to the price cuts implemented at the beginning of the year, which industry experts had underestimated. Similar to the first quarter, Tesla’s car production exceeded the number of deliveries.
The breakdown of Tesla’s model production and delivery numbers in the second quarter is as follows: 19,489 Tesla Model S/X units were produced, with 19,225 being delivered, and 460,211 Tesla Model 3/Y units were produced, with 446,915 being delivered. There was a stockpile of 13,560 vehicles in the second quarter, slightly less than the previous three months, where over 18,000 Teslas were built in excess. Shareholders are cautious about high inventories as they pose the risk of further price reductions.
Despite this, Tesla remains confident in its expansion plans. The company aims to deliver approximately 1.8 million cars in 2023, an increase of around 500,000 units compared to the previous year. However, they still need to produce over 900,000 more electric cars to meet this target. Maintaining the current pace of production in the first two quarters will be crucial in achieving this goal.
In addition to their existing lineup, Tesla recently announced two new models: the Model Q and Model 2. These compact models will be available as a sedan and hatchback, with an expected starting price between 30,000 and 35,000 euros for the German market. The highly anticipated Cybertruck pick-up model is set to be released in 2024.
In summary, Tesla’s second-quarter production and delivery numbers exceeded expectations due to effective price cuts. The company remains optimistic about its expansion plans, aiming to deliver 1.8 million cars in 2023. Shareholders are concerned about high inventories, which could lead to further price reductions. Tesla’s upcoming models, the Model Q, Model 2, and Cybertruck, are anticipated to contribute to their future success.
