Tesla achieves record production in Q2

Tesla reported record global production of 479 thousand units and record deliveries of 466,140 units in the second quarter of 2023. Tesla delivered a total of 460,211 Model 3 and Model Y vehicles, and 19,489 Model S and Model X. While Tesla’s price-cutting strategy in the US, China and other countries helped drive sales, the price cuts impacted the company’s profitability in the second quarter, reporting a 24 percent decrease in net income compared to the same period the previous year. American electric vehicle giant Tesla achieved record global production of 479 thousand units and record deliveries of 466,140 units in the second quarter of this year. The company, which broke a vehicle delivery record, achieved a 10 percent increase in deliveries compared to the previous quarter and an 83 percent increase compared to the previous year. Tesla’s price-cutting strategy in the US, China and other countries helped drive sales, the price cuts impacted the company’s profitability in the second quarter. Tesla reported a 24 percent decline in net income compared to the same period a year earlier. About half of Elon Musk’s electric vehicle company Tesla’s record vehicle deliveries likely came from Tesla’s Shanghai gigafactory. Tesla delivered 75,842 Chinese-made electric vehicles in April and 77,695 in May. Tesla delivered far more Model 3 and Y vehicles than its more expensive Model S and X vehicles. Tesla delivered 460,211 Model 3s and Model Ys and 19,489 Model Ss and Model Xs in total. Analysts and investors look at delivery numbers more than production numbers because they are indicative of actual sales figures that Tesla does not release. The company said in a statement that Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be used as an indicator of quarterly financial results, which depend on a variety of factors, including cost of sales, currency movements and the mix of directly leased vehicles.