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Tesla reported 485,000 fourth-quarter deliveries, bringing the total for 2023 to 1.8 million.

Tesla recently released its fourth-quarter 2023 vehicle production and delivery report. Here are the key figures:

Total deliveries in the fourth quarter of 2023: 484,507.
Total production in the fourth quarter of 2023: 494,989
2023 total annual deliveries: 1,808,581
Total annual output in 2023: 1,845,985.

Elon Musk’s automaker reported 1.31 million annual deliveries and 1.37 million electric vehicle production in 2022. The new figures show a 38% increase in delivery and a 35% increase in production year over year. In 2022, the company reported a 40% increase in deliveries over 2021.

In its most recent earnings call in October 2023, Tesla executives predicted that the company would deliver at least 1.8 million vehicles for the full year, a figure that had been revised down from a previous target of 2 million.

Tesla

According to a consensus of estimates compiled by StreetAccount as of Dec. 28, analysts expected Tesla to report 477,000 deliveries for the year-ending quarter. Deliveries are the closest approximation to Tesla’s reported sales, but they are not defined precisely in the company’s shareholder communications.

During the company’s third-quarter earnings call in October, Tesla CEO Elon Musk predicted that the Model Y entry-level SUV would “be the bestselling car on Earth, not just in revenue, but in unit volume,” for the year. Tesla does not break out delivery and production numbers by model, but instead reports totals of:

During the quarter, Tesla produced 476,777 Model 3 and Model Y vehicles and reported 461,538 deliveries for these models. It didn’t break down Model S or X production or delivery figures, instead lumping them together under “Other Models.” During the quarter, it produced 18,212 other models and delivered 22,969.

Tesla sold its refreshed, or Highland, version of the entry-level Model 3 sedan in some markets in the fourth quarter of 2023. In December, the company began shipping a limited number of its newest EVs, the angular and controversial Cybertruck, to the United States.
Tesla did not break out numbers for the Cybertruck and the Semi, the heavy-duty commercial truck that it has produced in small numbers at its battery plant outside of Reno so far.

Tesla also slashed prices in markets around the world throughout the fourth quarter of 2023, a strategy to deal with what Tesla CFO Vaibhav Taneja described as “a period of economic uncertainty, higher interest rates, and shifting consumer sentiment” on the company’s October earnings call.

BYD, China’s largest competitor on the global stage, sold 3.02 million new energy vehicles in 2023, including 1.6 million battery-electric passenger cars and 1.4 million hybrid electric models.

Tesla

In response to Musk and his frequent, incendiary remarks on X, formerly Twitter, the social media platform he now owns, and at other public speaking events, some previous and prospective Tesla customers have declared plans to avoid purchasing from the company. For example, in November, the White House condemned Musk for promoting “antisemitic and racist hate” in a series of posts on X, for which Musk later apologized.

However, in the second half of 2023, Tesla began advertising campaigns, which it had previously avoided in favor of nontraditional marketing efforts such as events, giveaways, and engagements with social media influencers.

In addition to a battery factory in Sparks, Nevada, and other facilities where it manufactures spare parts, charging equipment, and large batteries for home or utility-scale energy storage, Tesla now operates two vehicle assembly plants in the United States and two overseas in Shanghai and Brandenburg, Germany. In March, the company announced plans to build yet another car plant in Nuevo León, Mexico.

Oil prices are falling as traders monitor rising Red Sea tensions.

On the company’s most recent earnings call, Musk was asked about the 2024 delivery forecast and said, “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 believe we will grow much faster than any other car company on the planet.”

Taneja stated at the time that Tesla was focused on “growing our volumes in a very cost-efficient manner,” and that the company would provide 2024 guidance on the next earnings call.

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