This article presents Tesla’s vehicle production and delivery numbers.
Apart from vehicle production and delivery numbers, this article also explores a number of other statistics, including Tesla’s cumulative deliveries, trailing 12-months (TTM) and annual deliveries, automotive sales revenue, vehicle sales comparison with Ford and GM as well as with Chinese EV makers.
Investors who are interested in Tesla’s revenue and revenue breakdown by segment may visit this page – Tesla Sales Breakdown, Margin And Profit.
Without further said, let’s start with the following topics!
Tesla’s Installed Annual Vehicle Capacity
Tesla’s production capacity as of fiscal 2Q 2023:
|As at 30 June 2023|
|Installed Annual Capacity||Status|
|California, USA||Model S / Model X||100,000||Production|
|Model 3 / Model Y||550,000||Production|
|Shanghai, China||Model 3 / Model Y||750,000||Production|
|Berlin, Germany||Model Y||350,000||Production|
|Texas, USA||Model Y||250,000||Production|
|Nevada, USA||Tesla Semi||–||Pilot Production|
|India||Future Product||–||In Talks With Leaders|
|Indonesia||Future Product||–||In Talks With Leaders|
As of 2Q 2023, Tesla’s Fremont Gigafactory located in California, USA, can produce up to 550,000 Model 3/Y and 100,000 Model S/X, the largest installed capacity among all Gigafactory in the U.S.
On the other hand, Tesla’s Texas Gigafactory produces only the Model Y and has an annual installed capacity of 250,000 vehicles.
While the Fremont Gigafactor is the largest among all in the U.S., it pales in comparison with that of China.
Tesla Shanghai Gigafactory can produce up to 750,000 vehicles per year, making it the largest in the world.
Despite having a huge production capacity, Tesla’s Shanghai Gigafactory produces only the Model 3/Y and works as the company’s main export hub to the world for both vehicle models.
Apart from the U.S. and China, Tesla also is working on a number of Gigafactory around the world.
For example, Tesla Berlin Gigafactory produces only the Model Y while the one located in Texas is expected to work on the Model Y and Cybertruck.
Also, Tesla’s Nevada reportedly will work on the Tesla Semi.
On a cumulative basis, Tesla’s total production capacity on a worldwide basis was roughly 2 million vehicles per year as of 2Q 2023.
In short, Tesla is on the cusp of ruling the world!
Tesla’s Total Vehicle Production
On a consolidated basis, Tesla produced nearly 1.4 million vehicles as of fiscal 2022, representing a rise of 46% year-on-year.
Tesla expects this figure to be close to 2 million vehicles by the end of 2023, which is roughly in line with the company’s worldwide installed capacity which we saw earlier.
Since 2018, Tesla has managed to grow its production by more than 5-fold, topping more than 1 million vehicles for the first time in 2022.
Tesla’s Total Vehicle Delivery
Similarly, Tesla delivered a whopping 1.3 million vehicles in fiscal 2022, a rise of 40% over 2021.
Tesla’s total vehicle delivery has risen by more than 5-fold since 2018 and reached more than 1 million vehicles for the first time in 2022.
A trend worth mentioning is that Tesla’s vehicle delivery numbers are roughly in line with the total vehicle produced, suggesting a reasonably well-managed inventory.
Tesla’s Vehicle Sales Growth Rates
Tesla’s vehicle sales growth rates have been exceptionally outstanding, averaging more than 70% year-on-year over the past 5 years.
As of 2022, Tesla’s vehicle sales growth rate totaled 40%, still a reasonably good figure despite being one of the lowest in recent years.
Going forward, Tesla expects to grow its sales volume by 50% on average.
At this rate of growth, Tesla may deliver 2 million vehicles by the end of fiscal 2023.
Tesla’s Cumulative Vehicle Deliveries
On a cumulative basis, Tesla’s total vehicle sales reached the 1 million units milestone in 2Q 2020.
As of fiscal 2Q 2023, Tesla has so far delivered nearly 4.5 million vehicles.
Tesla’s Model 3/Y Delivery Numbers By Year
For Model 3 and Y only, Tesla delivered 1.25 million vehicles as of fiscal 2022, up 37% from a year ago.
Since 2018, Tesla’s Model 3 and Y delivery has grown by more than 8-fold and reached more than 1 million vehicles for the first time in 2022.
Tesla’s Model 3/Y Delivery Numbers By Quarter
The chart above says that the appeal of Tesla’s Model 3/Y to the mass market is undisputed.
Tesla’s Model 3/Y delivery has been on a smooth ride and even defied a number of challenges, including the COVID-19 crisis and supply chain issues.
As of 2Q 2023, Tesla delivered roughly 447 thousand Model 3 and Y, up 87% year-over-year and 8% from the prior quarter.
Tesla’s Model 3/Y Delivery Numbers By TTM
Again, Tesla has been able to enjoy a smooth ride in terms of vehicle sales, the Model 3 and Y in particular as reflected in the TTM plot above.
As of 2Q 2023, Tesla’s TTM Model 3 and Y delivery reached a massive 1.57 million vehicles, a record figure and up 48% from a year ago.
Conservatively, Tesla’s Model 3 and Model Y delivery will easily exceed the 2 million units threshold by the end of fiscal 2023 at the current rate of growth.
Tesla’s Model S/X Delivery By Year
Tesla delivered slightly over 66 thousand Model S and X in fiscal 2022, which was less than one-tenth of Model 3 and Y figures.
While Model S and X deliveries were far fewer than Model 3 and Y, the number in fiscal 2022 was still reasonably good and grew more than 100% over that of 2021, suggesting that the demand for Tesla’s premium vehicles had not really died off.
Tesla’s Model S/X Delivery By Quarter
The delivery numbers for Tesla’s premium models have been zig-zagging in the quarterly plot.
While the demand dropped off considerably during fiscal 2021, it quickly recovered in the following years and thereafter.
As of 2Q 2023, Tesla delivered 19 thousand Model S and X on a quarterly basis, up 19% year-on-year and more than 70% higher sequentially.
Despite the $100,000 price tag, Tesla was still able to deliver a considerable number of Model S and X.
Tesla’s Model S/X Delivery Numbers By TTM
The TTM plot better reflects the sales trend of Tesla’s Model S and X.
As seen, Tesla’s sales of Model S and X were on a decline prior to 2022 and it sold considerably fewer Model S and X in fiscal 2021.
However, in post-pandemic periods, Tesla’s sales of Model S and X have clearly recovered and reached 66 thousand vehicles as of 2Q 2023, a record number since 2021, and were up 27% year-on-year.
Therefore, there is still a considerable demand for Tesla’s premium models.
Tesla Vs Ford And GM In Vehicle Sales
Tesla’s vehicle sales are still significantly smaller than Ford’s and GM’s numbers.
The gap was much bigger prior to 2020 when EVs were relatively unheard of at that time.
As time goes by and as EVs are slowly gaining mainstream, Tesla is able to grow its delivery and close the gap with GM and Ford.
During the same period, Ford and GM’s vehicle sales have declined considerably, thereby closing the gap much faster.
Tesla Vs Nio, Xpeng And Li Auto In Vehicle Volume
Tesla’s vehicle sales are much larger than that of Chinese EV makers.
For example, as of fiscal 2022, the vehicle sales of Chinese EV makers were only one-tenth of Tesla’s number.
Even the combined figures of Nio, Xpeng, and Li Auto are not close to half of Tesla’s EV delivery.
Therefore, Tesla is far ahead of most Chinese EV companies in terms of sales volumes.
Tesla’s Vehicle Deliveries Vs Automotive Revenue
In terms of Tesla automotive revenue, it is tracking that of the automotive sales volumes.
As Tesla’s vehicle volume hit 1.6 million units, the automotive revenue is expected to close in on the $80 billion milestone (excluding the regulatory credits revenue).
The combination of vehicle volume and automotive revenue breaks down to a vehicle selling price that averages around $52,000 per car sold for Tesla.
In summary, Tesla’s total vehicle production and delivery figures are at record highs.
As of 2022, Tesla’s total vehicle production and sales exceeded the 1 million milestones for the first time.
Going forward, these figures will most likely trend higher given the upcoming number of Gigafactory around the world, including a plant in India and Indonesia.
In terms of competition, Tesla is still pretty much way ahead of its Chinese peers and it is fast closing the gap with GM and Ford.
Therefore, Tesla is still the king of EVs as of 2023.
References and Credits
1. All financial figures presented in this article were referenced and obtained from Tesla’s SEC filings, earnings reports, financial statements, investors letters, etc, which are available in Tesla Investor Relations.
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