Elon Musk’s company sold a record number of vehicles in the second quarter – 466,140 worldwide.
The US electric car manufacturer Tesla recorded a strong increase in global vehicle shipments, which will be at a record 83% in the second quarter of 2023. The Wall Street Journal writes about this, citing the a company report.
Growth is driven by rapidly falling EV prices and deep discounts as market competition intensifies.
From April to June, more than 466,000 Tesla vehicles were sold worldwide, a quarterly high. Most deliveries were for the Model 3 and Model Y, with 460,211 units delivered. The company also produced 19,489 more premium Model S and Model X vehicles.
Although Tesla’s operating margin fell from 19.2% to 11.4% in the first quarter, it remains higher than many other automakers.
The company’s growth rate is expected to drop to 24% in the second half of the year compared to the same period last year. Some investors expect Tesla’s EV price cuts to increase in the second quarter.
In the second quarter in the US, Tesla Model 3 vehicles were listed as vehicles subject to the full $7,500 tax credit, like the company’s other models. In addition, Tesla reduced the prices of its models in the US by 14-25%.
In the first quarter, price cuts pushed Tesla’s revenue down 24% to $2.5 billion. Tesla’s operating margin fell from 19.2% to 11.4% in the first three months of 2022, but remains one of the highest in the auto industry.
Recall that in May Tesla recalled 1.1 million electric cars in China related to detected software problems.
Source: korrespondent
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