Tesla has reported the delivery of 422,875 EVs during Q1 2023, a 36% increase from the same period last year, and a 4% increase from Q4 2022. The company produced a record-breaking 440,808 vehicles during the same quarter. However, the delivery numbers were slightly lower than independent analyst Troy Teslike’s prediction of 427,000 vehicles for Q1.
The majority of Tesla’s deliveries were Model 3 and Model Y vehicles, with 412,180 units reaching customers by the end of March 2023. In contrast, the more expensive Model S and Model X vehicles saw a modest 10,695 deliveries, dropping from 17,147 in the previous quarter.
Tesla’s Q1 2023 delivery numbers may impact the company’s financial results, as the automaker implemented aggressive price cuts across most of its lineup during the quarter. For example, the five-seat Model Y saw a price reduction from $65,990 to $52,990 in January, followed by a further reduction to $54,990.
Tesla also recently slashed the price of Model S and X vehicles by up to $10,000. The company will publish its full Q1 results on April 19th.