Tesla delivered a record 466,140 vehicles in the second quarter of 2023, representing a significant jump over Q2 2022 and beating out analyst expectations.
The car manufacturer recently confirmed that it produced a total of 479,700 vehicles in Q2, consisting of 19,489 Model S and Model Xs as well as 460,211 examples of the far more popular Model 3 and Model Y. It delivered slightly fewer vehicles than it made, shipping 19,225 Model S and Model Xs alongside 446,915 Model 3s and Model Ys.
These figures compare well to the second quarter of 2022 when Tesla produced 258,580 vehicles and delivered 254,695 of them. Given that Tesla does not release sales data, its delivery figures are the closest approximation available of its sales.
Tesla was able to boost production by adding manufacturing capacity and also ramping up production at its plant in Austin, Texas. Sales have been spurred by a host of price cuts announced at the start of the year, and while prices have been steadily rising ever since, Tesla’s most popular models still remain cheaper now than they were last year.
On the back of the news, Tesla’s share price jumped from $261.80 at the close on Friday, June 30 to as high as $281.87 on Monday, July 3. Ahead of Tesla’s second-quarter deliveries report, Elon Musk advised investors to be careful with margin loans.
Read: Tesla Gives New UK Owners A ‘Reacher’ Stick To Deal With Left-Hand Drive Cars
“Please advise people to be wary of margin loans,” he said. “Tesla has always been a high variability stock, often with no obvious rhyme or reason. We are confident about long-term value creation, but cannot control the manic-depressive nature of the stock market.”
The company will release its financial results for the second quarter of 2023 after market close on July 19.
