Tesla doubles deliveries in the spring quarter

2023-07-03 16:56:00

Electric car manufacturer’s discount strategy “bearing fruit”: Tesla doubles deliveries in the spring quarter

Tesla has significantly exceeded market expectations (symbol image)

© Patrick Pleul/dpa

Tesla has announced a new delivery record. According to the company, the electric car manufacturer delivered a good 466,000 vehicles. The price cuts in the second quarter have had an effect on the sales figures.

The US electric vehicle manufacturer Tesla produced and delivered more cars in the second quarter from April to June than experts had expected. Production was at almost 480,000 vehicles, the company said on Sunday in Austin. A good 466,000 units were delivered. Analysts had expected significantly less for both sizes. In the first half of the year, the company produced around 920,500 cars, as announced on Sunday. The goal for the year as a whole is the production of 1.8 million vehicles.

The price cuts earlier in the year “have borne fruit,” said market research firm Wedbush Securities. The demand is apparently still very high, more efficient production has made the “massive” deliveries possible. However, as in the first quarter, production exceeded deliveries. With 13,560 vehicles, however, the inventory build-up in the second quarter was smaller than in the first three months of the current month, when overproduction was at more than 18,000 vehicles.

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Tax breaks in the US boost Tesla business

In the United States, Tesla also benefits from the government’s Inflation Reduction Act (IRA) subsidy program: When you buy a Tesla Model 3, taxes are waived for $7,500 (almost €6,900). The sum was initially significantly lower, which is why Tesla moved all production to the USA. The IRA supports companies that locate their manufacturing in the USA. Tesla had previously manufactured parts of the Model 3 in China. Tesla produces in the USA, in China and in Grünheide in Brandenburg. Another plant is planned in northern Mexico.

nk DPA AFP