Tesla Smashes Delivery Record in the First Quarter

The electric carmaker delivered a record 422,875 vehicles in the first quarter, above analysts' forecasts

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Published April 03, 2023

Tesla Dealership — Justin Sullivan / Staff / Getty Images

Tesla delivered 422,875 vehicles worldwide in the first quarter, setting a record after it slashed prices to boost demand.

The deliveries were more than the 421,164 vehicles analysts had forecast for the company. Tesla also said it produced 440,808 vehicles during the quarter, more than the 432,513 analysts had expected.

This marks a 36% increase in deliveries compared to the 310,048 a year ago, and a 4% increase from the last quarter. The company reported deliveries of 10,695 of its higher-priced Model S and X vehicles, or about 2% of the total. Tesla reported deliveries of 412,180 of its lower-priced Model 3 sedan and Model Y crossover during the quarter.

Deliveries are the closest approximation of sales disclosed by Tesla. The first quarter was marked by repeated price cuts, including in the U.S., Europe, and China.

Tesla (TSLA) shares are falling more than 3% in early trading Monday. They're up 63% so far this year but down 45% over the past year.

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Tesla Inc. "Tesla Vehicle Production & Deliveries and Date for Financial Results & Webcast for First Quarter 2023."

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