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Tesla Vehicle Production And Deliveries By Year And Quarter

Tesla Motors. Source: Flickr Image

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
Location Model
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
Cybertruck Tooling
Nevada, USA Tesla Semi Pilot Production
TBD Roaster In Development
Robotaxi In Development
India Future Product In Talks With Leaders
Indonesia Future Product In Talks With Leaders

* Installed capacity ≠ current production rate and there may be limitations discovered as production rates approach capacity, according to Tesla.
* Production rates depend on a variety of factors, including equipment uptime, component supply, downtime related to factory upgrades, regulatory considerations, and other factors, according to Tesla.
* Tesla production capacity 2Q 2023. Source: Tesla 2Q 2023 update letter.

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.

Going forward, Tesla may add India and Indonesia as one of its production hub.

In short, Tesla is on the cusp of ruling the world!

Tesla’s Total Vehicle Production

Tesla total vehicle production

Tesla total vehicle production

(click image to enlarge)

* Total vehicle production numbers are obtained from Tesla’s investor update letters.
* Tesla’s fiscal year begins on Jan 1 and ends on Dec 31.

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

Tesla total vehicle delivery

Tesla total vehicle delivery

(click image to enlarge)

* Total vehicle delivery numbers are obtained from Tesla’s investor update letters.
* Tesla’s fiscal year begins on Jan 1 and ends on Dec 31.

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 vehicle sales growth rates

Tesla vehicle sales growth rates

(click image to enlarge)

* Sales growth rates come from the author’s own calculation.
* Tesla’s fiscal year begins on Jan 1 and ends on Dec 31.

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

Tesla's cumulative vehicle delivery

Tesla’s cumulative vehicle delivery

(click image to enlarge)

* Cumulative vehicle delivery numbers come from the author’s own calculation and consist of the sum of all prior delivery numbers.
* Tesla’s fiscal year begins on Jan 1 and ends on Dec 31.

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

Tesla's Model 3 and Model Y delivery figures by year

Tesla’s Model 3 and Model Y delivery figures by year

(click image to enlarge)

* Model Y delivery started only in 2Q 2020.
* Model 3/Y delivery numbers are obtained from Tesla’s investor update letters.
* Tesla’s fiscal year begins on Jan 1 and ends on Dec 31.

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

Tesla Model 3 and Y delivery figures by quarter

Tesla Model 3 and Y delivery figures by quarter

(click image to enlarge)

* Model Y delivery started only in 2Q 2020.
* Model 3/Y delivery numbers are obtained from Tesla’s investor update letters.
* Tesla’s fiscal year begins on Jan 1 and ends on Dec 31.

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

Tesla Model 3 and Y delivery figures by TTM

Tesla Model 3 and Y delivery figures by TTM

(click image to enlarge)

* TTM figures represent the sum of the data on a trailing 12-month or 4-quarter basis and come from the author’s own calculation.
* Tesla’s fiscal year begins on Jan 1 and ends on Dec 31.

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 Model S and X delivery figures by year

Tesla Model S and X delivery figures by year

(click image to enlarge)

* Model S/X delivery numbers are obtained from Tesla’s investor update letters.
* Tesla’s fiscal year begins on Jan 1 and ends on Dec 31.

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

Tesla Model S and X delivery figures by quarter

Tesla Model S and X delivery figures by quarter

(click image to enlarge)

* Model S/X delivery numbers are obtained from Tesla’s investor update letters.
* Tesla’s fiscal year begins on Jan 1 and ends on Dec 31.

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

Tesla Model S and X delivery figures by TTM

Tesla Model S and X delivery figures by TTM

(click image to enlarge)

* TTM figures represent the sum of the data on a trailing 12-month or 4-quarter basis and come from the author’s own calculation.
* Tesla’s fiscal year begins on Jan 1 and ends on Dec 31.

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 delivery vs. Ford and GM

Tesla’s vehicle delivery vs. Ford and GM

(click image to enlarge)

* GM and Ford’s vehicle sales numbers are wholesale-based while Tesla’s figures are retailed-based.
* All companies’ fiscal year begins on Jan 1 and ends on Dec 31.

Tesla’s vehicle sales are still significantly smaller than Ford’s and GM’s numbers.

Precisely, Tesla’s sales number is only about 30% of Ford’s sales and 37% of GM’s sales for fiscal 2022.

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 delivery vs. Chinese EV companies

Tesla’s vehicle delivery vs. Chinese EV companies

(click image to enlarge)

* Chinese EV sales numbers are obtained from the companies’ respective sales reports.
* All companies’ fiscal year begins on Jan 1 and ends on Dec 31.

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

Tesla's vehicle delivery and automotive revenue

Tesla’s vehicle delivery and automotive revenue

(click image to enlarge)

* Automotive revenue and vehicle delivery data shown in the chart above are presented on a TTM basis.
* TTM data is calculated based on the sum of quarterly data on a trailing 12-month or 4-quarter basis.
* Tesla’s automotive revenue excludes regulatory credit revenue.
* Tesla’s fiscal year begins on Jan 1 and ends on Dec 31.

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.

Conclusion

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.

2. Featured images in this article are used under Creative Commons License and sourced from the following websites: Jakob Härter and Duncan Rawlinson – Duncan.co.

Disclosure

References and examples such as tables, charts, and diagrams are constantly reviewed to avoid errors, but we cannot warrant the full correctness of all content.

The content in this article is for informational purposes only and is neither a recommendation nor a piece of financial advice to purchase a stock.

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{ 2 comments… add one }
  • Dan Ciborowski August 17, 2021, 5:11 am

    Thanks a lot for your detailed breakdown here.
    It has helped me but my ordering “process” into some perspective.

    I completed the order for a Model Y LR on July 11th, and was provided an estimated delivery date between August 15 and Sept 1.
    By the time I woke up the next day, the delivery date was pushed to Sept-Oct. And then again around August 12th till Oct-Nov.

    Given your numbers, in order to estimate a delivery by end of August, I assume there were roughly 145k orders placed before my own. Given this rate, Telsa would produce about 220k in Q3.
    But now given the revised timeline for my own vehicle, Tesla will only be able to produce 110k Vehicles in Q3.

    Now, Telsa states, that all purchased are completed in order that they are received… That they do not guarantee delivery dates, but that those dates are the most accurate dates they can provide. But, the Phone Reps can not clarify on how they are deteremined, which is only available to other people in the company who can not be reached. They have also stated that they deliver all vehicles in the order which purchases were placed.

    Currently Tesla is advertising the Model Y LR ordered today would be delivered in Jan (but off course, no guarantees). While a Model Y Performance is advertised as 6-8 weeks.

    This starts to feel fishy. How can someone ordering the same, but “more expensive”, version of the same vehicle receive theirs first, if all orders are completed in order.

    I think…. Tesla is cherry picking out the most profitable orders, particularly with the nearest delivery destinations, so that, despite COVID they can keep putting up these fantastic numbers.

    If Tesla goes and sets another record, selling more then 200k vehicles in Q3, the fishy smell feel like rote. As they could only achieve those numbers through some massive customer manipulation.

    Or, is the upside if we see a nearly 50% reduction in quarterly production, matching their advertised estiamtes of about 110k?

    • Kenny Chan August 17, 2021, 10:45 am

      The cherry-picking on car delivery definitely smells fishy.

      However, Tesla expects to produce 50% more cars in 2021 than in 2020, and the same for 2022.

      If Tesla can only deliver or produce 110k vehicles in Q3, be prepared for a 50% reduction in the stock price.

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