Tesla Deliveries for Q1 FY’2023 Summary

1. Total production of 440,808, ~2% higher than the analyst estimation of 432,513.

2. Total deliveries of 422,875, slightly missing the estimates by ~2%. This number also represents a 4% growth q-o-q compared to Q4’FY2022, or a 36% y-o-y increase compared to Q1’FY2022

3. Deliveries for Model 3 and Model Y vehicles increased 6% q-o-q, while Model X and Model S (the more luxury segments) declined by 38% q-o-q

While the deliveries numbers were slightly missing consensus estimates, it is still a very commendable feat for the Tesla team for posting record numbers, albeit it was much expected due to the multiple price cuts in early Q1, where the standard Model Y was cut from $65,990 to $54,990.

What investors are more worried about is the promise made by Elon Musk (in January) that he aims for Tesla’s 2023 deliveries to hit 2 million vehicles, from the 1.3 million in 2022, save for any unexpected events.

We shall follow closely on their margins number for Q1’FY2023 somewhere in the week of 24th April 2023. Drop me a Like if you enjoyed this read - stay tuned for more!