Tesla once again increased its global electric vehicle production and deliveries, reaching new record levels in the second quarter of 2023.
Results improved quite significantly in both categories - Model 3/Model Y, as well as Model S/Model X.
In this post, we will take a look at the numbers and charts to visualize the progress and to better understand what is happening and what to expect in the near future.
Results Q2 2023
In Q2, Tesla increased its overall global electric car production by around 86 percent year-over-year to 479,700, which is a new quarterly record. It's also a better result by almost 39,000 units than in Q1 (440,808, which was the previous top result).
The lion's share falls on the Model 3/Model Y - 460,211 (up 90 percent year-over-year) and a new record. It's clear that Tesla pushes hard for its two most popular models (especially the Model Y, which far outsells the Model 3).
The Model S/Model X production also improved - by 19 percent year-over-year to 19,489, but it was similar to the Q1 level. Overall, it's a solid result.
The total global sales (customer deliveries) amounted to 466,140 (up 83 percent year-over-year). That's also a new quarterly record.
In terms of the two vehicle groups, the Model 3/Model Y duo noted 446,915 deliveries (up by 87 percent year-over-year and a new record), while the Model S/Model X duo noted 19,225 deliveries (up 19 percent).
It seems that the Model S/Model X is now getting up to speed after the Q1 slowdown, related to the switch of deliveries from North America to other global markets (Europe, Asia).
Q2 2023 (YOY change):
- Total production: 479,700 (up 86%)
- Model 3/Y production: 460,211 (up 90%)
- Model S/X production: 19,489 (up 19%)
- Total deliveries: 466,140 (up 83%)
- Model 3/Y deliveries: 446,915 (up 87%)
- Model S/X deliveries: 19,225 (up 19%)
None of the numbers include the Tesla Semi electric truck.
Results Q1-Q2 2023
So far this year, Tesla globally produced over 920,000 electric cars and delivered over 889,000 electric cars to customers.
Production increased by 63 percent year-over-year, while deliveries are following, with a 57 percent increase. Both numbers are higher than Tesla's rough target to expand its EV business by 50 percent a year, but let's have in mind two waves of price reductions this year (mostly in January and April) to attract more orders.
Q1-Q2 2023 (YOY change):
- Total production: 920,508 (up 63%)
- Model 3/Y production: 881,582 (up 65%)
- Model S/X production: 38,926 (up 27%)
- Total deliveries: 889,015 (up 57%)
- Model 3/Y deliveries: 859,095 (up 61%)
- Model S/X deliveries: 29,920 (down 3%)
For reference, in 2022, Tesla produced 1,369,611 electric cars (up 47 percent year-over-year) and delivered 1,313,851 (up 40 percent year-over-year).
Charts
Total deliveries
- Q2: 466,140 (up 83%)
YTD: 889,015 (up 36%)
Deliveries by model
- Model 3/Y deliveries
Q2: 446,915 (up 87%)
YTD: 859,095 (up 61%) - Model S/X deliveries
Q2: 19,225 (up 19%)
YTD: 29,920 (down 3%)
A quick look at the cumulative results: Model S/Model X reached 630,000+, while Model 3/Model Y is above 3.9 million.
Total production
- Q2: 479,700 (up 86%)
YTD: 920,508 (up 63%)
Production by model
- Model 3/Y production
Q2: 460,211 (up 90%)
YTD: 881,582 (up 65%) - Model S/X production
Q2: 19,489 (up 19%)
YTD: 38,926 (up 27%)
During the past four quarters, Tesla delivered more than 1.63 million electric cars. Cumulatively, more than 4.5 million Tesla cars were produced and delivered.
It's expected that Tesla might produce and sell some 1.8 million vehicles in 2023 (compared to 1.3 million units in 2022). We are now wondering how close to 2 million it might be.
Tesla's long-term goal is to increase sales by about 50 percent year-over-year.
