Tesla simply printed its fourth-quarter automobile manufacturing and deliveries report for 2023. Here are the important thing numbers:
Total deliveries This fall 2023: 484,507
Total manufacturing This fall 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 signify supply development of 38% 12 months over 12 months and manufacturing development of 35% 12 months over 12 months. In 2022, the corporate reported 40% development 12 months over 12 months in deliveries from 2021.
In its final earnings name in October 2023, Tesla execs provided steerage that the corporate would notch a minimum of 1.8 million deliveries for the total 12 months, a quantity they’d revised down from a 2 million aim earlier.
Analysts had anticipated Tesla to report deliveries of 477,000 for the year-ending quarter, in response 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 within the firm’s shareholder communications.
During a third-quarter earnings name in October, Tesla CEO Musk stated the corporate’s Model Y entry-level SUV was more likely to “be the bestselling car on Earth, but not just in revenue, but in unit volume,” for the 12 months. Tesla doesn’t escape supply and manufacturing numbers by particular person mannequin however reported mixed numbers of:
Tesla produced 476,777 Model 3 and Model Y autos throughout the quarter and reported 461,538 deliveries for these fashions. 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 in the course of the quarter.
In the final quarter of 2023, Tesla bought its refreshed, or Highland, model of the entry-level Model 3 sedan in some markets. In December, the corporate started deliveries of a small variety of its latest EV, the angular and controversial Cybertruck, within the U.S.
Tesla didn’t escape numbers for the Cybertruck and numbers for its Semi, the heavy-duty business truck it has manufactured in small numbers up to now at its battery plant exterior of Reno.
Tesla additionally slashed costs all through the final quarter of 2023 in markets world wide, a method to deal with what Tesla CFO Vaibhav Taneja had known as, “a period of economic uncertainty, higher interest rates, and shifting consumer sentiment” on the corporate’s October earnings name.
Tesla’s greatest competitor on the world stage, Chinese automaker BYD, bought 3.02 million new power autos in 2023, of which 1.6 million had been battery-electric passenger vehicles and 1.4 million had been hybrid electrical fashions.
Some earlier and potential clients of Tesla have declared plans to keep away from shopping for from the corporate in response to Musk and his frequent, incendiary remarks on X, previously Twitter, 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 collection of posts on X for which Musk later expressed remorse.
However, Tesla started promoting campaigns within the second half of 2023, which it beforehand eschewed in favor of nontraditional advertising and marketing efforts similar to occasions, giveaways and engagements with social media influencers.
Tesla now operates two automobile meeting crops within the U.S., and two abroad in Shanghai and Brandenburg, Germany, along with a battery manufacturing unit in Sparks, Nevada, and different amenities the place it manufactures spare elements, charging gear and massive batteries for residence or utility-scale power storage. The firm additionally plans to assemble yet one more automotive plant in Nuevo León, Mexico, it introduced in March.
When requested concerning the 2024 outlook for deliveries on the corporate’s final earnings name, Musk stated: “At the risk of stating the obvious, it is not possible to have a compound growth rate of 50% forever, or you will exceed the mass of the known universe. But I think we will grow very rapidly, much faster than any other car company on Earth by far.”
Taneja stated then that Tesla was centered on “growing our volumes in a very cost-efficient manner,” and would offer 2024 steerage on the subsequent earnings name.
Tesla plans to debate fourth-quarter outcomes on Jan.24, 2024, at 5:30 p.m. ET.
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