Tesla simply revealed its fourth-quarter car manufacturing and deliveries report for 2023. Here are the key numbers:
Total deliveries This autumn 2023: 484,507
Total manufacturing This autumn 2023: 494,989
Total annual deliveries 2023: 1,808,581
Total 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 new numbers characterize supply development of 38% year-over-year and manufacturing development of 35% year-over-year. In 2022, the firm reported 40% development year-over-year from 2021.
In its final earnings name in October 2023, Tesla execs provided steering that the firm would notch at the least 1.8 million deliveries for the full yr, a quantity that they had revised down from a 2 million objective earlier.
Analysts had anticipated Tesla to report deliveries of 477,000 for the year-ending quarter, in accordance to a consensus of estimates compiled by StreetAccount as of Dec. 28. Deliveries are the closest approximation of gross sales reported by Tesla however usually are not exactly outlined in the firm’s shareholder communications.
During a third-quarter earnings name in October, Tesla CEO Musk mentioned the firm’s Model Y entry-level SUV was seemingly to “be the best-selling 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 Model 3/Y vehicles throughout the quarter and famous 461,538 deliveries. It did not break down Model S or X manufacturing or supply numbers, as a substitute batching them into “Other Models.” It produced 18,212 different fashions and delivered 22,969 throughout the quarter.
In the final quarter of 2023, Tesla offered its refreshed, or Highland, model of the entry-level Model 3 sedan in some markets. In December, the firm began deliveries of a small variety of its latest EV, the angular and controversial Cybertruck, in the U.S.
Tesla didn’t report numbers for the Cybertruck and nonetheless has not reported manufacturing and supply numbers for its Semi, the heavy-duty business truck it has manufactured in small numbers to date at its battery plant outdoors of Reno.
Tesla additionally slashed costs all through the final quarter of 2023 in markets round the world, a technique to address what Tesla CFO Vaibhav Taneja had referred to as, “a interval of financial uncertainty, greater rates of interest, and shifting client sentiment” on the firm’s October earnings name.
Some earlier and potential clients of Tesla have declared plans to keep away from shopping for from the firm in response to Musk and his frequent, incendiary remarks on X, the social media platform he now owns, and at different public talking occasions. In November, for instance, the White House condemned Musk for selling “antisemitic and racist hate” in a sequence of posts on X for which Musk later expressed remorse.
Tesla board members and executives haven’t responded to homeowners’ and traders’ issues about Musk’s acknowledged views, together with current rants in opposition to range, fairness and inclusion initiatives in enterprise and better schooling and downplaying of the unfavorable local weather impacts, near-term, of current levels of fossil fuel consumption.
However, Tesla started promoting campaigns in the second half of 2023, which it beforehand eschewed in favor of non-traditional advertising and marketing efforts resembling occasions, giveaways and engagements with social media influencers.
Tesla now operates two car meeting vegetation in the U.S., and two abroad in Shanghai and Brandenburg, Germany, as well as to a battery manufacturing unit in Sparks, Nevada, and different services the place it manufactures spare components, charging gear and massive batteries for residence or utility-scale vitality storage. The firm additionally plans to assemble one more automotive plant in Nuevo León, Mexico, it introduced in March.
When requested about the 2024 outlook for deliveries on the firm’s final earnings name, Musk mentioned: “At the threat of stating the apparent, it isn’t doable to have a compound development charge of fifty% without end, or you’ll exceed the mass of the identified universe. But I believe we are going to develop very quickly, a lot sooner than some other automotive firm on Earth by far.”
Taneja mentioned 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.