Tesla (TSLA) posted its Q2 2023 production and delivery numbers yesterday. This time, the electric automaker has produced nearly half a million cars in a quarter.
Tesla delivered 466,140 cars in Q2 2023. The automaker beats its previous record quarter with a 10% QoQ growth in vehicle deliveries.
Compared to Q2 2022, Tesla has achieved a massive growth of 83% in deliveries (254,695 vs. 466,140). Tesla has also increased its vehicle production capacity by 85.5% YoY (Q2 2022 vs. Q2 2023).
| Production | Deliveries | Subject to operating lease accounting | |
|---|---|---|---|
| Model S/X | 19,489 | 19,225 | 8% |
| Model 3/Y | 460,211 | 446,915 | 5% |
| Total | 479,700 | 466,140 | 5% |
The massive growth in Tesla’s production capacity reflects the automaker’s ability to scale its factories in less and less time. In 2017 and 2018, Tesla suffered from scaling its Model 3 production, what Elon Musk referred to as “production hell”.
The experience and learning from that phase have enabled Tesla to quickly scale up production at its car factories around the globe. For example, in May, Tesla announced that it has gained a 5,000 Model Y per week production capacity at Giga Texas.
It’s worth noting that Tesla started production at Giga Texas in January 2022. It took only 1 and a half years for the automaker to reach the production capacity of 5K/week.
Giga Berlin reached a production rate of 4,000 Model Y units per week in February 2023. Interestingly, Tesla delivered the first Giga Berlin-made Model Y almost only a year before reaching the 4K/week production capacity.
At market close yesterday (3rd July), the price of a Tesla (TSLA) share rose to $279.82 which is a +$18.05 or 6.90% increase compared to the last trading day (Friday). Tesla’s share price has gone up by $36.67 or 15.08% in the last 5 business days.
Q2 2023 Earnings Call Date & Time
Tesla also announced the Q2 2023 Earnings Call and Q&A webcast schedule. The Tesla (TSLA) Q2 2023 Earnings will be held on Wednesday 19th July 2023 at 4:30 p.m. Central Time / 5:30 p.m. Eastern Time.
What: Date of Tesla Q2 2023 Financial Results and Q&A Webcast
When: Wednesday, July 19, 2023
Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q2 2023 Update: https://ir.tesla.com
Webcast: https://ir.tesla.com (live and replay)
In 2021, Elon Musk announced that he will no longer attend Tesla earnings calls but only after a quarter he returned to his position on these occasions. So, stay tuned as the vibrant Tesla CEO talks about the Tesla Q2 2023 financial results and spills out some Tesla news as well.
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