Tesla (NASDAQ: TSLA) reported delivery of more than 435,000 vehicles in Q3 2023. Notably, the company produced fewer vehicles than it delivered, highlighting the strong demand for Tesla cars.
Tesla reported that in the third quarter, it produced 430,488 vehicles and delivered 435,059 vehicles. “A sequential decline in volumes was caused by planned downtimes for factory upgrades, as discussed on the most recent earnings call,” the company recalled. Last quarter, Tesla began production of the updated Model 3, which required a temporary shutdown to retool production lines. In addition, changes were made to the Model Y production lines. Tesla confirmed the 2023 delivery target of 1.8 million vehicles.
Notably, the company delivered more vehicles than it produced. This confirms that demand for Tesla vehicles remains strong around the world. In Q3, the manufacturer delivered 435,059 vehicles. Of these, 419,074 units were Model 3/Y and 15,985 Model S/X. Thus, Tesla has delivered 1,324,074 vehicles so far. All indications are that delivery of about 500,000 vehicles in Q4 is quite possible, which means that the goal of delivering 1.8 million vehicles this year is achievable.
Tesla will post its financial results for the third quarter of 2023 after market close on Wednesday, October 18, 2023. At that time, Tesla will issue a brief advisory containing a link to the Q3 2023 update, which will be available on Tesla’s Investor Relations website. Tesla management will hold a live question and answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook.
What: Date of Tesla Q3 2023 Financial Results and Q&A Webcast
When: Wednesday, October 18, 2023
Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q3 2023 Update: https://ir.tesla.com
Webcast: https://ir.tesla.com (live and replay)
Approximately two hours after the Q&A session, an archived version of the webcast will be available on the Company’s website.
For additional information, please visit https://ir.tesla.com.
© 2023, Eva Fox | Tesmanian. All rights reserved.
We appreciate your readership! Please share your thoughts in the comment section below.
About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.