Tesla delivered 1.81 million electric cars to customers in 2023
Tesla reported that it made about 495,000 electric cars in the fourth quarter, and delivered more than 484,000. In 2023, the company’s car deliveries increased by 38% to 1.81 million, and their production increased by 35% to 1.85 million.
As Bloomberg points out, Tesla’s performance does not yet allow it to overtake China’s BYD in global sales of electric vehicles. The latter sold 526.4 thousand electric cars during the quarter. However, Tesla generates more revenue and profit than BYD because it sells much more expensive models. The Model Y SUV and the Model 3 sedan accounted for 95% of the company’s deliveries. Despite its strong position in China’s domestic market, BYD has not entered the US market.
Tesla is likely to deliver more than 2.1 million vehicles in 2024, according to Ben Callo, an analyst at Baird. The company’s line was updated at the end of last year thanks to the release of the Cybertruck electric pickup truck. Tesla has not disclosed how many pickup trucks it has built and delivered by the end of the year.
The company’s shares overcame a 1.6% decline and traded at $248.43 on January 2. Last year, their value soared by 102%.
The change in the ranking of electric car sales reflects China’s growing influence in the global automotive industry. Having overtaken the US, South Korea and Germany in the past few years, China may now overtake Japan.
While Tesla doesn’t break out quarterly car sales by region, the US and China are considered its biggest markets. The company manufactures the S, X, 3 and Y models in Fremont, California, as well as the 3 and Y models in Shanghai. It also produces the Model Y at its plants in Austin and near Berlin.
In the fourth quarter of 2022, Tesla delivered more than 405,000 electric cars, which was a record for the manufacturer.