Tesla simply revealed its fourth-quarter automobile manufacturing and deliveries report for 2023. Listed here are the important thing numbers:
Whole deliveries This autumn 2023: 484,507
Whole manufacturing This autumn 2023: 494,989
Whole annual deliveries 2023: 1,808,581
Whole annual manufacturing 2023: 1,845,985
In 2022, the Elon Musk-led automaker reported annual deliveries of 1.31 million and manufacturing of 1.37 million electrical autos. The brand new numbers signify supply progress of 38% yr over yr and manufacturing progress of 35% yr over yr. In 2022, the corporate reported 40% progress yr over yr in deliveries from 2021.
In its final earnings name in October 2023, Tesla execs supplied steering that the corporate would notch a minimum of 1.8 million deliveries for the total yr, a quantity they’d revised down from a 2 million purpose earlier.
Analysts had anticipated Tesla to report deliveries of 477,000 for the year-ending quarter, in line with a consensus of estimates compiled by StreetAccount as of Dec. 28. Deliveries are the closest approximation of gross sales reported by Tesla however will not be exactly outlined within the firm’s shareholder communications.
Throughout a third-quarter earnings name in October, Tesla CEO Musk stated the corporate’s Mannequin Y entry-level SUV was more likely to “be the bestselling automotive on Earth, however not simply in income, however in unit quantity,” for the yr. Tesla doesn’t escape supply and manufacturing numbers by particular person mannequin however reported mixed numbers of:
Tesla produced 476,777 Mannequin 3 and Mannequin Y autos throughout the quarter and reported 461,538 deliveries for these fashions. It did not break down Mannequin S or X manufacturing or supply numbers, as an alternative batching them into “Different Fashions.” It produced 18,212 different fashions and delivered 22,969 throughout the quarter.
Within the final quarter of 2023, Tesla bought its refreshed, or Highland, model of the entry-level Mannequin 3 sedan in some markets. In December, the corporate began deliveries of a small variety of its latest EV, the angular and controversial Cybertruck, within the U.S.
Tesla didn’t escape numbers for the Cybertruck and numbers for its Semi, the heavy-duty business truck it has manufactured in small numbers up to now at its battery plant outdoors of Reno.
Tesla additionally slashed costs all through the final quarter of 2023 in markets around the globe, a method to deal with what Tesla CFO Vaibhav Taneja had known as, “a interval of financial uncertainty, larger rates of interest, and shifting shopper sentiment” on the corporate’s October earnings name.
Tesla’s largest competitor on the world stage, Chinese language automaker BYD, sold 3.02 million new energy vehicles in 2023, of which 1.6 million have been battery-electric passenger vehicles and 1.4 million have been hybrid electrical fashions.
Some earlier and potential prospects of Tesla have declared plans to keep away from shopping for from the corporate in response to Musk and his frequent, incendiary remarks on X, previously Twitter, the social media platform he now owns, and at different public talking occasions. In November, for instance, the White Home condemned Musk for selling “antisemitic and racist hate” in a collection of posts on X for which Musk later expressed remorse.
Nonetheless, Tesla started promoting campaigns within the second half of 2023, which it beforehand eschewed in favor of nontraditional advertising and marketing efforts corresponding to occasions, giveaways and engagements with social media influencers.
Tesla now operates two automobile meeting vegetation within the U.S., and two abroad in Shanghai and Brandenburg, Germany, along with a battery manufacturing unit in Sparks, Nevada, and different services the place it manufactures spare elements, charging gear and massive batteries for house or utility-scale vitality storage. The corporate additionally plans to assemble yet one more automotive plant in Nuevo León, Mexico, it introduced in March.
When requested in regards to the 2024 outlook for deliveries on the corporate’s final earnings name, Musk stated: “On the danger of stating the apparent, it’s not doable to have a compound progress fee of fifty% endlessly, or you’ll exceed the mass of the identified universe. However I feel we are going to develop very quickly, a lot quicker than every other automotive firm on Earth by far.”
Taneja stated then that Tesla was centered on “rising our volumes in a really cost-efficient method,” and would offer 2024 steering on the subsequent earnings name.
Tesla plans to debate fourth-quarter outcomes on Jan.24, 2024, at 5:30 p.m. ET.
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