Tesla smashes 2023 target with 1.8 million EVs, leaving rivals in the shadows

  • Tesla crushes Q4 2023 goals with nearly 500,000 vehicles.
  • Model 3/Y take charge with 476,777 units produced and 461,538 units delivered in Q4.
  • Tesla wraps up an unprecedented year, setting a new record with 1,845,985 cars produced in 2023 – an impressive 25.8% surge from the prior year.

Tesla shatters records: nearly 500,000 vehicles in Q4 2023, surpassing 1.8 million for the year

In an impressive finish to 2023, Tesla exceeded expectations by achieving new production and delivery records in the fourth quarter. Just shy of the 500,000 mark, the electric car manufacturer slightly surpassed its target of 1.8 million vehicles for the year.

In the fourth quarter, Tesla achieved outstanding results, producing a record-breaking 494,989 electric cars and delivering an impressive 484,507 vehicles. These figures significantly outperformed the third quarter, where production stood at 430,488, and deliveries reached 435,059 electric vehicles. Tesla had previously explained the dip in production during the third quarter as scheduled production pauses due to factory modernisations.

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Highlighting their success, the second quarter of 2023 remains Tesla’s most triumphant period, with an exceptional production of 479,700 Teslas and deliveries reaching 466,140, setting a remarkable benchmark for the company.

Breaking down the model series, the fourth quarter followed the typical pattern, with the Model 3 and Model Y emerging as the sales champions. Tesla constructed a combined total of 476,777 Model 3 and Model Y units (produced in Fremont and Shanghai) and successfully delivered 461,538 vehicles.

In contrast, the premium segment saw a more modest production of 18,212 units for the Model S and Model X, exclusively built in Fremont. Despite this, the company delivered 22,969 units of these premium models in the fourth quarter. The contrast in volumes reflects Tesla’s focus on the Model 3 and Model Y as the driving force behind its sales success during this period.

In the year 2023, Tesla showcased a robust performance, manufacturing 1,775,159 units and delivering 1,739,707 vehicles from the popular Model 3 and Model Y series. The upscale Model S and Model X duo contributed an additional 70,826 units built and 68,874 units delivered. This impressive production and delivery output culminated in a grand total of 1,845,985 cars built and 1,808,581 units successfully delivered throughout the year.

In a remarkable progression, Tesla demonstrated substantial growth over the past two years. In 2022, the company reported manufacturing 1,369,611 vehicles and delivering 1,313,851. The previous year, in 2021, Tesla approached the one million vehicle mark, with 930,422 vehicles built and 936,172 vehicles delivered.

The impressive upswing is evident when comparing these figures to 2023, where Tesla achieved a significant increase of 25.8 percent. With a total of 1,845,985 vehicles built and 1,808,581 vehicles delivered, the company has not only surpassed its previous records but has done so with substantial growth in production and deliveries.

Tesla, known for its succinct updates, has hinted at its recent performance through brief announcements on delivery and production figures. The company is set to release its detailed fourth-quarter 2023 and full-year financial results on January 24, 2024, after the US stock exchange closes. The accompanying conference call, featuring insights from top executives, including CEO Elon Musk, will provide a deeper understanding of Tesla’s current developments and strategic direction. Investors and enthusiasts eagerly await these updates for a comprehensive view of Tesla’s performance and future plans.

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