This article keeps track of Tesla’s quarterly vehicle production and deliveries numbers for Model S, Model X, Model 3 and the new Model Y.
Other than 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, sales comparison with Ford and GM, quarter over quarter (QoQ) and year over year (YoY) growth rates.
Let’s start with the following topics!
Tesla’s Production Capacity
The following snapshot shows Tesla’s production capacity as of fiscal 4Q 2021:
|Installed Annual Capacity||Current||Status|
|California||Model S / Model X||100,000||Production|
|Model 3 / Model Y||500,000||Production|
|Shanghai||Model 3 / Model Y||>450,000||Production|
|Berlin||Model Y||–||Equipment test|
|Texas||Model Y||–||Equipment test|
|TBD||Tesla Semi||–||In development|
|India||Future Product||–||Pending confirmation|
|Indonesia||Future Product||–||Pending confirmation|
Based on the table above, Tesla’s Model 3/Y production at the Fremont Gigafactory has an annual installed capacity of up to 500,000 vehicles but that doesn’t mean Tesla can ramp the production to this number.
Installed annual capacity for Model S/X is limited to only 100,000 vehicles at the Fremont Gigafactory, a significantly smaller figure compared to that of Model 3/Y.
Similarly, Tesla’s annual production capacity at the Shanghai Gigafactory is now greater than 450,000 vehicles as of 4Q 2021.
The production number at the Shanghai Gigafactory will be significantly higher when the ongoing expansion is completed.
However, Tesla’s Shanghai Gigafactory produces only the Model 3/Y instead of all models despite being the company’s main export hub to the world.
In addition, Tesla is also building a number of Gigafactory around the world which will work on other models such as the Tesla Semi, Cybertruck and Roadster.
The Berlin Gigafactory is completed as of 4Q 2021 and the factory is now rolling out the Model Y for the European market.
As of 4Q 2021, Tesla’s installed production capacity on a worldwide basis is around 1 million vehicles per year.
Going forward, Tesla’s installed capacity can easily double and exceed 2 million vehicles per year when all Gigafactory, including the upcoming Gigafactory India and the Gigafactory Indonesia, are coming onboard.
In short, Tesla is on the cusp of ruling the EV space!
Tesla’s Model 3/Y Production
The chart above shows Tesla Model 3 and Model Y combined quarterly production numbers between fiscal 2017 and 2022.
For your information, Tesla has only started large-scale production of Model 3 in the second half of 2017 and Model Y in 1Q 2020.
As the chart shows, Tesla’s combined production numbers, which include both the Model 3 and Model Y, have grown tremendously over the past 5 years, reaching a record high as of 1Q 2022 at nearly 300,000 vehicles.
Year over year, Tesla’s 1Q 2022 production number grew by more than 60%.
According to the chart, Tesla’s Model 3/Y production accelerated the most since fiscal 2020 as a result of the company’s aggressive expansion on a global scale.
In this aspect, Tesla’s Model 3/Y production capacity has now reached 1 million vehicles per year with the completion of the Shanghai Gigafactory.
Tesla plans to further expand the Shanghai Gigafactory’s capacity beyond the 500,000 vehicles on an annual basis.
At this production rate, Tesla’s 2022 production for Model 3/Y on a global level can easily exceed 1 million units.
Tesla’s Model S/X Production
On the contrary, Tesla’s Model S and Model X productions have been sort of flat since 2016 and the figure has even declined significantly during fiscal 2019 and reached only 14,000 vehicles as of fiscal Q1 2022.
Despite having an installed capacity of 100,000 vehicles on an annual basis at the Fremont Gigafactory, Tesla produced only 24,000 Model S/X in fiscal 2021.
For your information, Tesla does not make any Model S/X elsewhere except at the Fremont Gigafactory in the U.S.
In the 1st quarter of 2021, Tesla’s Model S/X production was nil due to the production shift to newer models for Model S/X.
And, Tesla is slowly shifting to the newer Model S/X production line which has resulted in fewer Model S/X being produced.
For your information, Tesla’s Model S/X is considered a premium vehicle in which mass production is limited or may not be feasible.
In addition, the mass market appeal for Model S/X may not be as huge as that of Model 3/Y because of its higher price points.
As such, the Model S/X has a maximum production capacity of only 100,000 vehicles per year at the Fremont Gigafactory and is only produced in the U.S.
Over the years, Tesla has not been able to grow the production of Model S/X due primarily to the premium features of these models and of course, the exorbitant price point.
Generally speaking, the higher entry price for the Model S/X has rendered mass-market adoption of these models nearly impossible.
Tesla’s Model 3/Y Delivery
On the delivery side, Tesla delivered nearly 300,000 Model 3/Y in fiscal Q1 2022, up 61% from a year ago.
Tesla’s Model 3/Y deliveries over the past 3 years have been nothing short of extraordinary and it has been accelerating since fiscal 2020.
The appeal of the Model 3/Y to the mass market is undisputed.
Again, the massive jump in Model 3/Y deliveries in 2021 and 2022 has been primarily driven by the delivery ramp at both the Shanghai Gigafactory and the Fremont Gigafactory.
Tesla’s Shanghai Gigafactory has been adding massive numbers of Model 3/Y for the Chinese market since fiscal 2020 after its inception in 2019.
Despite the COVID-19 headwinds and the microchip disruption, Tesla has so far managed to defy the challenges and pressed forward to deliver record vehicle sales results in 2021.
Cumulatively, Tesla has delivered close to 2 million Model 3 and Y combined as of 2022 Q1 since the start of the Model 3 product 3 years ago.
Tesla’s Model S/X Delivery
In contrast, Tesla delivered nearly 15,000 Model S and Model X in fiscal 1Q 2022 as shown in the chart above, up more than 600% from a year ago.
Despite the huge jump in 1Q 2022, the number actually represents a decline on a long-term basis.
Tesla’s Model S/X deliveries averaged about 25,000 vehicles per quarter prior to 2019 but the figure dropped drastically since 2019 with an average figure of only 15,000 vehicles per quarter delivered.
And, Tesla has delivered only a total of 25,000 Model S/X in 2021, a significantly lower number than its historical highs.
Over the chart, you may notice that Tesla’s Model S/X delivery has been going downhill steadily and the downtrend has accelerated in 2021.
The downtrend is sort of expected as Tesla has shifted its focus to the Model 3/Y since 2019 due primarily to the mass production capability of these models.
As mentioned, Tesla’s Model S/X are considered premium models in which the installed production capacity is limited to only 100,000 vehicles per year compared to the 500,000 installed capacity for Model 3/Y per Gigafactory.
Tesla won’t survive on Model S/X alone as these models sell for nearly USD100,000 per piece.
How many can afford a vehicle that costs nearly USD100,000?
Therefore, Tesla needs the Model 3/Y to survive and grow.
Currently, the Model S/X are produced only at the Fremont Gigafactory in the U.S., and these vehicles are exported globally to other countries.
Tesla Vs. Ford And GM In Annual Vehicle Sales
The chart above shows Tesla’s vehicle sales or deliveries compared to that of Ford and General Motors on an annual basis.
The comparison in vehicle deliveries among Tesla, Ford and GM is meant to give readers an idea of where Tesla stands in terms of car sales figures over the last several years.
According to the chart, Tesla’s vehicle sales seem awfully small when pitted against that of its bigger rivals such as Ford and GM.
For example, Tesla delivered only a million vehicles in 2021 compared to 4 million vehicle deliveries for Ford and 3 million for General Motors.
In 2021, Tesla’s total vehicle deliveries were 4X fewer than that of Ford Motor and 3X fewer than that of General Motors.
The difference was even bigger back in 2015 when Ford and GM delivered nearly 6 million vehicles each compared to Tesla’s 50,000 vehicles.
However, Tesla is expected to be closing in on Ford and GM’s vehicle sales when Tesla’s delivery figure is projected to reach 1.5 million vehicles in fiscal 2022.
While Tesla’s vehicle delivery is much smaller compared to Ford and GM, its market capitalization is roughly 10X higher than that of Ford and GM combined as of April 2022.
Despite the larger vehicle sales, Ford and GM have been seeing their figures trending lower since fiscal 2015 and the numbers are expected to be moderating in fiscal 2022, driven by a multitude of issues, including the microchip shortages.
In contrast, Tesla’s vehicle sales have been growing by leaps and bounds between fiscal 2015 and 2022, and that probably explains the huge market capitalization differences.
Tesla’s Vehicle Sales Vs. Nio, Xpeng And Li Auto
While Tesla’s vehicle delivery number is far fewer than that of GM and Ford, it’s at the top when compared to Chinese EV makers such as Nio, Xpeng and Li Auto as shown in the chart above.
For example, as of fiscal 1Q 2022, Tesla’s TTM vehicle delivery figure reaches more than 1.1 million vehicles while Nio, the biggest EV maker in China by market cap, delivered only 97,000 vehicles during the same period.
Other Chinese EV companies such as Xpeng and Li Auto delivered a much higher number of vehicles as of 1Q 2022 compared to Nio, with Xpeng at nearly 120,000 units and Li Auto at 110,000 units on a TTM basis.
In fiscal 2021, all Chinese EV companies delivered about 100,000 vehicles each compared to nearly 1 million vehicles for Tesla.
In short, Tesla outpaces all Chinese EV companies by a large margin in terms of car sales figures.
Tesla’s Vehicle Deliveries And Automotive Revenue
The TTM plot is to smooth out all the bumps of a quarterly plot and display a very clear trend on a long-term basis.
That said, Tesla’s total vehicle deliveries have been surging and reached slightly over 1,000,000 vehicles as of 1Q 2022 on a TTM basis.
In the same quarter, Tesla’s automotive revenue is expected to total $45 billion, up 55% from a year ago.
At a growth rate that averages around 50%, Tesla’s vehicle sales will top 1.2 million vehicles by fiscal 2Q 2022 on a TTM basis.
Similarly, Tesla’s automotive revenue is expected to come in at $52 billion by fiscal 2Q 2022 on a TTM basis based on the average vechicle sales price of around $49,000 for Tesla.
Tesla’s Cumulative Vehicle Deliveries
The chart above shows Tesla’s cumulative vehicle deliveries which dated as far back as 1Q 2015.
According to the chart, Tesla reached the 1 million vehicles milestone in 2Q 2020.
As of fiscal 1Q 2022, Tesla’s total vehicle sales have exceeded 2.5 million units cumulatively.
Tesla’s Vehicle Deliveries Quarterly Growth Rates
Tesla reported consecutive quarters of positive QoQ growth rates in 2021 and the numbers have been growing.
In fiscal Q1 2022, Tesla’s vehicle delivery QoQ growth rate totaled 29%, one of the highest ever reported by the company.
In the subsequent quarter, the figure may only be -2.2% quarter to quarter if Tesla were to report a vehicle sales number of around 300,000 units .
Tesla’s Vehicle Deliveries Year-On-Year Growth Rates
As shown, Tesla’s YoY results are even more impressive compared to the quarterly figures in which nearly all results are positive.
Tesla’s YoY growth rates are accelerating in fiscal 2020 and 2021 despite having the COVID-19 outbreak and chip crisis.
Tesla reported a YoY growth rate of 68% for total vehicle delivery in fiscal 1Q 2022, one of the best results achieved by the company since 2020.
If Tesla were to deliver 300k vehicles in 2Q 2022, the YoY growth rate will come to 50%.
In summary, Tesla’s total vehicle production and delivery figures are at record highs now.
As of Q1 2022, Tesla’s total vehicle production and sales have inched towards the 1 million threshold.
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 2022.
References and Credits
1. Financial figures in this article were referenced and obtained directly from Tesla Investor Press Release.
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