San Francisco | Elon Musk-run Tesla delivered a record 4,22,875 electric vehicles in the first quarter of 2023, beating Wall Street estimates. In the first quarter, the electric carmaker produced over 4,40,000 vehicles.
We continued to transition toward a more even regional mix of vehicle manufacturing, including Model S/X vehicles in transit across EMEA and APAC, it said in a statement.
In the fourth quarter of 2022, Tesla delivered 4,05,278 vehicles and produced 4,39,701 units.
According to reports, the bulk of the deliveries came from vehicles produced at the Shanghai Gigafactory.
Tesla will release its financial results for the first quarter of 2023 after the market closes on April 19.
Tesla has adjusted the pricing of its electric vehicle in the US several times in recent times.
The company has drastically reduced the prices of EVs in its lineup in the US and Europe in an effort to boost sales. Its stock fell more than 60 percent earlier this year.
The cheapest EV, the Model 3 RWD, drops from $46,990 to $43,990.
In addition, the price of the Model Y Long Range dropped by 20 percent, from $65,990 to $52,990.
Musk indicated that prices could rise further as Tesla adjusts to the demand created by the drastic price cuts.
In the global passenger electric vehicle (EV) market, Tesla’s ‘Model Y’ continues to be the best-selling model globally, followed by China-based BYD’s Song model.
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