Tesla announces record 2023 Q1 Production and Delivery results
Tesla has announced that it delivered 422,875 vehicles in the first quarter of 2023 and produced 440,808 vehicles in the same period, both results setting new records for Elon Musk’s Texas-based company.
Much of the company’s growth is currently being driven by its East Asian markets, primarily China.
Data produced by the China Passenger Car Association indicates that more than 50% of the Q1 deliveries came from China. Price cuts in that East Asian country across the Tesla Model 3 and Model Y range has led to an EV price war where, in some cases, prices are up to 14% cheaper than 12 months ago.
Tesla has been under pressure over the past few months after turbulence in its share price. A full update on Tesla’s current trading is due in mid-April when the company reports its first-quarter earnings fof 2023 and will provide further information on developments within the worid's largest EV manufacturer..