Tesla Exceeds Analyst Delivery Projections for Q4, 2023

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Electric automobile maker Tesla surpassed expectations for vehicles delivered in Q4 2023 despite losing its spot as the world’s top seller of electric cars to China’s BYD.

As shared by the company, it produced approximately 495,000 vehicles and delivered over 484,000 vehicles, beating the average analyst estimate of 483,173 units delivered.

BYD, on the other hand, outperformed Tesla by selling 526,409 fully electric vehicles in Q4, 2023.

The Austin, Texas-based automobile maker produced 476,777 Model 3/Y vehicles in the last quarter, and 18,212 other models. In all of 2023, the company produced 1,775,159 Model 3/Y vehicles and 70,826 other models, totalling more than 1.8 million vehicles.

As shared by Bloomberg, although BYD delivered more vehicles than Tesla last quarter, Tesla still has an edge over BYD in terms of revenue and profit, as it sells much more expensive vehicles. The company also expanded its product portfolio late last year, launching the Cybertruck after multiple years of delay.

Tesla will share its financial results for the fourth quarter of 2023 after market close on Wednesday, January 24th, 2024. You can check out the Q4 production numbers here.

Source: Tesla, Via: Bloomberg

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