Tesla produced 430,488 automobiles in the third quarter of 2023, a 10% decrease from the previous quarter but a 25% growth for the firm-year over year.
Tesla ascribed the sequential decrease in output to “planned downtimes for factory upgrades.” Tesla CEO Elon Musk noted during a recent earnings call that the “summer shutdowns” were required for recent product updates, such as the redesigned Model 3 and Model Y that were just introduced for the Chinese market.
In the third quarter, the business delivered 435,059 automobiles, a 6.6 percent reduction from the previous quarter but a 26.5 percent gain year over year.
Tesla keeps a 2023 production goal of 1.8 million vehicles. With today’s report, the company has manufactured 1.35 million, or roughly three-quarters of its annual aim.
Tesla will disclose its third-quarter earnings on October 18th. I’m sure many people will tune in for an update on the Cybertruck, which was slated to begin extremely limited deliveries this quarter. The corporation had stated that it planned a delivery event for the third quarter, however; the quarter passed without an announcement.
Tesla will almost certainly address issues regarding its pricing as well as recent victories related to its charging plug standard. Jaguar Land Rover and Honda are two new converts to the company’s North American Charging Standard, with more on the way. However, certain firms, including Volkswagen, Hyundai/Kia, Toyota, and Lucid, are still holding out.