Tesla broke its record for the number of vehicles produced and delivered in a single quarter. The automaker actually delivered 422,875 electric cars in the first quarter of 2023, even exceeding analysts’ expectations.
2023 is off to a good start for Tesla. After an initial price drop in January, then another drastic drop of up to $10,000 less for the Model S and X, demand has exploded. So much so that the automaker broke a new record. In the first quarter of 2023, Tesla has delivered 422,875 electric cars and produced 440,808.
Tesla has thus exceeded Wall Street analysts’ expectations which forecast 420,000 vehicles delivered in the first quarter. The drop in prices for Tesla cars has undoubtedly contributed to the explosion in demand around the world.
China could account for more than 50% of Tesla’s global deliveries in the first quarter of 2023
Despite Tesla’s exorbitant auto repair prices, orders have soared since the price drop. China is also one of the most important markets for the automaker at the start of the year. Indeed, a large percentage of total shipments come from of vehicles produced at the Shanghai Gigafactory.
China also benefited from lower Tesla prices, which explains the explosion in orders. Tesla directly competes with other electric car automakers on the spot like BYD, XPeng, Li Auto et Nio. Lower prices have increased competition among market giants in China. Incidentally, Tesla’s sales in China have increased since last year.
As usual, Elon Musk’s company remains mysterious as to the precise sales figures in each region. Nevertheless, according to data from the China Passenger Car Association (CPCA), Tesla would have sold 140,453 cars assembled in China in January and February 2023. We do not yet have the figures for the month of March. If they are as important as February’s, more than 50% of global deliveries in the first quarter would come from the Shanghai Gigafactory. China is thus truly a market of the future for Tesla.
Source : TechCrunch
