Tesla, which has been engaged in a price war throughout the year, handed over a "barely good" Q4 2023 and full year delivery report on the evening of January 2nd.
In the fourth quarter, Tesla delivered 484500 vehicles globally, higher than the market estimate of 48.31 vehicles, a year-on-year increase of about 20%; Production of approximately 495000 vehicles, a year-on-year increase of 12.58%.
At this point, Tesla's global delivery performance for 2023 has been announced, delivering 1.81 million vehicles throughout the year, a year-on-year increase of 38%, slightly exceeding the previous annual delivery target of 1.8 million vehicles.
In 2022, Tesla and BYD had a sales difference of 550000 vehicles, while in 2023, the gap between the two widened to 1.21 million vehicles.
Production meets the minimum guidelines
In 2023, Tesla's production increased by 35% year-on-year, reaching 1.85 million vehicles, in line with Tesla CEO Elon Musk's minimum production guidelines of 1.8 to 2 million vehicles. Tesla's fourth quarter delivery volume is usually the highest in a year, and there is no exception in 2023, with a year-on-year increase of 20% in delivery volume in the fourth quarter.
Tesla's delivery announcement shows that in the fourth quarter of 2023, Tesla Model 3 and Model Y delivered 461500 vehicles, while other models delivered approximately 23000 vehicles, both increasing year-on-year.
Tesla Official
Tesla delivered 422900, 466000, 435100, and 484500 electric vehicles in the first and fourth quarters of 2023, respectively. The delivery volume in the fourth quarter continued the upward trend in previous years.
In 2023, Model 3 and Model Y delivered 1.7397 million vehicles, a year-on-year increase of 39%. Other models delivered 68900 vehicles. In 2023, Tesla's other models, including Model S and Model X, increased by 2200 vehicles compared to 2022. In addition to these four models, Tesla also launched the first delivery of the electric pickup truck Cybertruck on December 1, 2023.
Tesla Official
According to Tesla's latest 2023 delivery data, it can be inferred that the current delivery volume of electric pickup truck Cybertruck is not high. According to third-party organizations, the current order volume of Cybertruck pickup trucks has exceeded 2 million.
It is reported that the rear wheel drive, all wheel drive, and beast versions of Cybertruck pickup trucks are currently priced at $49890, $68890, and $96390 on the US official website. Gary Blake, co-founder and managing partner of Future Fund, pointed out that due to pickup trucks occupying 20% of the US automotive market, Tesla's total sales in 2022 were 2.7 million units. Tesla's future sales will significantly increase with the launch of Cybertruck, and he expects Tesla's sales to increase by 53% in 2024.
Market analyst Jairam Nathan's forecast for Tesla's 2024 delivery volume has been lowered from 2.14 million vehicles to 2.04 million vehicles. "Tesla's average sales revenue per vehicle in 2024 will decrease by 4% year-on-year," Nathan said.
Shanghai factory or contribution exceeding five transaction payments
According to data from the China Association of Automobile Manufacturers, in the first 11 months of 2023, Tesla's Shanghai super factory delivered over 850000 electric vehicles, exceeding the full year of 2022, with a year-on-year increase of 30%. This means that throughout 2023, Tesla's Shanghai factory is expected to contribute over half of Tesla's global delivery volume.
Tesla's Q3 2023 financial report indicates that the actual annual production capacity of the Shanghai super factory has expanded from 750000 vehicles/year in the second quarter to over 950000 vehicles/year in the third quarter. It is reported that the Shanghai super factory has become Tesla's main export center globally, and electric vehicles are selling well in overseas regions such as Asia Pacific and Europe.
In recent years, Tesla has accelerated its investment layout in Shanghai. On December 22, 2023, Tesla and the Shanghai Lingang New Area Management Committee held a land transfer signing ceremony for the Tesla Shanghai Energy Storage Super Factory project, announcing the official start of this milestone project. As Tesla's first energy storage super factory project outside of the United States, the factory plans to start production in 2024, with an initial plan to produce 10000 commercial energy storage batteries annually and a storage capacity of nearly 40GWh.
Tesla will reduce prices globally in 2023 to stimulate sales. In the US market, some car companies such as General Motors and Ford seem to be slowing down their pace of electrification transformation, making Tesla highly competitive in the US market. In the Chinese market, Tesla faces competition from local new energy companies such as BYD, resulting in a certain decline in its market share.
Industry insiders say that entering 2024, Tesla will face the challenge of boosting demand for the new Model 3 and electric pickup truck Cybertruck.
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