In 2023, Tesla revealed its production and delivery numbers for electric vehicles, marking another successful year for the company. Tesla produced 1.846 million EVs and delivered 1.809 million, a 38% increase from the previous year. The fourth quarter alone saw 494,989 EVs produced and 484,507 delivered. Although Tesla originally anticipated selling 2 million vehicles in 2023, it revised its projection downward during the October 2023 earnings call. However, the company exceeded analyst expectations for Q4 2023, as reported by CNBC.
The majority of Tesla’s production and deliveries consisted of 476,777 Model 3 and Model Y EVs, with sales including the newer “Highland” Model 3. Despite Elon Musk’s prediction that the Model Y would become the “bestselling car on Earth,” Tesla did not provide a breakdown of sales between its two popular models. Additionally, the company sold 18,212 “other models,” comprising the Model S and Model X EVs, with no sales figures available for the Cybertruck.
Tesla faced challenges with negative press regarding its EV lineup, particularly surrounding its Autopilot system, which faced regulatory scrutiny in the US and other countries. However, the company’s EV sales benefitted from price reductions over the past year, with the Model 3 and Model Y dropping to $38,990 and $45,990, respectively. Tesla attributed the price drops to “economic uncertainty, higher interest rates, and shifting consumer sentiment” in its October earnings call.
Despite its success in China, Tesla faces strong competition from the EV giant BYD, which reported sales of 3.02 million electrified vehicles in 2023, including 1.6 million fully electric cars and 1.4 million hybrids. Most of BYD’s EVs are sold at significantly lower price points compared to Tesla’s cars.
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