On January 2nd, Tesla released its 2023 Global Production and Delivery Report. In 2023, Tesla produced approximately 1.846 million electric vehicles worldwide, a year-on-year increase of 35%; Delivered approximately 1.809 million vehicles, a year-on-year increase of 38%, and achieved the established annual target of 1.8 million vehicles, maintaining its position as the global pure electric vehicle sales champion for the year.
Among them, a total of 1.74 million Model 3/Y vehicles were delivered in 2023, a year-on-year increase of 39%; A total of 69000 units were delivered for other models, except for the Model S/X. In December last year, Tesla launched the first batch of electric pickup truck Cybertruck deliveries, but the quantity was very small. Although the order volume exceeds 2 million, the electric pickup truck Cybertruck is still in the ramp up stage of production capacity, making it difficult to bring significant sales feedback to Tesla in the short term.
On a quarterly basis, Tesla's production in the first three quarters of 2023 was 441000 vehicles, 480000 vehicles, and 430000 vehicles, respectively; The delivery volume is 423000 vehicles, 466000 vehicles, and 435000 vehicles respectively. In the fourth quarter of 2023, Tesla produced 495000 electric vehicles, a year-on-year increase of 12.6%; Approximately 485000 electric vehicles were delivered, a year-on-year increase of 19.5%, making it the quarter with the highest delivery volume for Tesla as usual.
However, it is worth noting that on January 1st, BYD also showed its 2023 performance report. Although there is still a gap in pure electric sales compared to Tesla throughout the year, the growth rate cannot be underestimated. Its pure electric sales in the fourth quarter were 526000 vehicles, surpassing Tesla's global pure electric sales champion in a single quarter.
Returning to China, the latest data from the China Association of Automobile Manufacturers shows that 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%. In the third quarter of this year, Tesla's Shanghai super factory upgraded its production line and further expanded its production capacity. Currently, the annual production has reached 950000 vehicles, which means that the Shanghai super factory is expected to contribute more than half of Tesla's global delivery volume in 2023.
On the retail end, according to journalist statistics, the Model 3/Y model achieved sales of 528000 units in the first 11 months of 2023, a year-on-year increase of 20%. There are reports that Tesla's Shanghai Super Factory delivered over 600000 electric vehicles domestically throughout 2023. However, in 2022, due to the impact of the epidemic, the Shanghai super factory briefly shut down, and delivery was also affected to some extent. In 2023, Tesla took the lead in launching a "price war", with price adjustments throughout the year. However, industry insiders have pointed out that Tesla's impact on sales through price reductions, price increases, and other means is becoming increasingly low.
At the beginning of the 2024 New Year, Tesla China launched two limited time benefits: firstly, it launched a New Year limited time current car insurance subsidy. Within January, if you order a current Model 3 rear wheel drive version and pick it up, you can enjoy an insurance subsidy of 6000 yuan; Secondly, we will introduce a limited time and low interest financial policy for the New Year. During the event, we will purchase all models of the S3XY and collect them, with an annual fee rate starting at 1.99%.
However, making some "painless" changes in price and limited time benefits is also difficult to boost Tesla's sales. Due to Tesla's slow pace of model updates, the current market competition is no longer comparable. In 2023, many new models have publicly challenged the Tesla Model 3/Y. For example, the FAW Volkswagen ID.7 VIZZION, Zhijie S7, and Xiaomi SU7 competing against the Tesla Model 3; Benchmark models such as Haobo HT and Model Y. The 300000 level pure electric market can be said to be a gathering place, and Tesla's growth momentum in China is clearly weak. With the upgrading of the market, Tesla's market share is also inevitably shrinking.
Some securities firms have pointed out that Tesla's global sales will reach 2.1 million vehicles in 2024, with sales in the Chinese market reaching 630000 vehicles, a year-on-year increase of 3%, and the growth rate is the lowest compared to the European and North American markets.