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Tesla Electric Vehicle Deliveries Surge 36% in Q1 2023 Despite Price Cuts

Cindy Mutia Annur 26/04/2023 19:08 WIB

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Global Tesla electric vehicle deliveries reached 422,875 units in Q1 2023, a 36% increase compared to Q1 of the previous year.

Tesla Electric Vehicle Delivery Volume per Quarter I (2019-2023)

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Tesla Electric Vehicle Deliveries Surge 36% in Q1 2023 Despite Price Cuts

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Tesla Electric Vehicle Delivery Volume per Quarter I (2019-2023)

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Global shipments of Tesla electric vehicles reached 422,875 units in Q1 2023. This represents a 36% increase compared to Q1 of the previous year and surpasses Wall Street's forecast of 420,000 units.

During the same period, total Tesla electric vehicle production reached 440,808 units, a 44% increase from the 305,407 units produced in Q1 of the previous year.

By model, Tesla shipped 412,180 units of Model 3 and Model Y, and 10,695 units of the premium SUV models, Model S and Model X, in the first quarter of this year.

Tech Crunch reports that a significant portion of Tesla's electric vehicle shipments originated from its Shanghai, China factory.

Tesla did not detail the country of origin of production and the destination of its electric vehicle shipments in its company report.

However, according to data from the China Passenger Car Association (CPCA), Tesla collectively shipped 140,453 units of vehicles produced in China from January to February 2023, while CPCA data for March 2023 has not yet been released.

"If Tesla's shipments in China in March 2023 match February's figures, it means that more than 50% (or almost 215,000 units) of Tesla's electric vehicle shipments in Q1 2023 came from Shanghai," said Tech Crunch on Monday, April 3, 2023.

According to Tech Crunch, in October 2022, Tesla cut prices on its electric vehicles in several countries, including China, as part of a "price war" with its competitors.

In January 2023, Tesla reportedly offered further discounts on Model 3 and Model Y in China, with reductions ranging from 6% to 13.5% off the normal price.

In recent months, Tesla has also implemented price cuts in the European market, Mexico, and the United States. In the US, Tesla Model Y and Model 3 received discounts of up to 20%, while Model X and Model S received discounts of up to 9%.

Competitors in China, such as Xpeng and Nio, and international brands like Volkswagen and Mercedes-Benz, also discounted their electric vehicles to compete with Tesla.

According to Tech Crunch, Tesla implemented this price-cutting strategy to boost its business, which had experienced turbulence. At the end of 2022, Tesla's share price plummeted amid Elon Musk's Twitter overhaul.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Tesla Electric Vehicle Deliveries Surge 36% in Q1 2023 Despite Price Cuts

Tesla Electric Vehicle Deliveries Surge 36% in Q1 2023 Despite Price Cuts

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Tesla Electric Vehicle Deliveries Surge 36% in Q1 2023 Despite Price Cuts

Tesla Electric Vehicle Deliveries Surge 36% in Q1 2023 Despite Price Cuts

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