Tesla Sees Record Deliveries Following Price Cuts And Increased Production

Tesla says that it has been able to deliver a record number of electric vehicles in the first quarter of 2023.

The company says that it delivered 422,875 cars in that quarter, an increase of 36% on the previous year. The number comprised 412,180 Model 3 and Y vehicles and 10,695 Model S and X.

It’s thought that recent price drips and an increase in the number of cars being built are behind the record number, a sum which is also 4% up on the previous quarter.

However, as noted by The Verge:

The announcement doesn’t give much of an indication for the increase; for that we’ll likely have to wait for Tesla’s full financial results on April 19th. But news of the delivery numbers follow a series of price cuts across the US, Europe, and China impacting various models across Tesla’s range. In January, for example, Tesla reduced the price of the long range Model Y variant by 20 percent in the US.

This good news comes after months of Tesla share volatility, with some concerned that CEO Elon Musk’s buyout of Twitter was causing him to take his eye off the prize.

Musk had said in January that Tesla hoped to deliver two million vehicles in 2023, an increase on the 1.3 million in 2022, but also shy of the 1.8 million deliveries that analysts had been hoping for.

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