Discover the ultimate Elon Musk experience with a premium
membership to the Elon Musk podcast.
Help us push the boundaries of innovation and quality as we
bring you in depth independent coverage of SpaceX and Tesla
Twitter and everything else. You'll on your support enables
us to expand our reach. Enhance our studio for video,
podcasts in the future and grow our passionate team now, join
the premium Community now and together, let's Elevate the
conversation, find the link in the show notes.
It's and become a vital part of our mission today.
Welcome back to the Elon Musk podcast where we deep dive into
the world of Tesla SpaceX and everything musk related.
I'm your host will Walden. And in today's episode we're
going to discuss Tesla's record-shattering quarter one
2023 results. The company, delivering, a
staggering 420, 2875 electric vehicles, surpassing wall,
Street's expectations will also touch on the crucial role.
The Shanghai gigafactory and how Tesla's aggressive price.
Cutting strategy has sparked a fierce price War among its
competitors. I'll stay tuned as we explore
what these impressive numbers mean for Tesla's future.
The impact of the company's Global price reductions on its
overall Financial Health and whether Tesla can maintain its
ambitious long-term. 50 percent compound annual growth rate as
the EV Market continues to expand while.
So look at how Tesla's dominance is shaping.
Being The Wider automotive industry and revolutionising
personal Transportation. Now, Tesla announced on Sunday
that it had successfully, delivered 420. 2875 V's during
the first quarter of 2023 that's past wall, Street's estimated
four hundred and twenty thousand units.
The automaker produced four hundred and forty thousand eight
hundred Any Vehicles during the same period making these the
highest delivery in production figures in the company's
history. Now in quarter for of 2022,
Tesla reported record-breaking delivery numbers of 405,000 278
V's while production reached 430 9701 units.
However these figures fell short of wall Street's predictions
causing concerns amongst investors fast forward to
Quarter one 2023 and Tesla's. Delivery numbers have shattered
previous records. Bolstered by sales from its
Shanghai gigafactory. Although Tesla doesn't provide a
regional breakdown of his delivery and production stats
data from the China passenger car Association.
The CPC a reveals that the company sold 140,000. 453 China
made vehicles in January and February.
Now if Tesla's March deliveries in China, match February's
figures. It would mean that more than
half nearly two hundred and fifteen thousand of q1
deliveries originated from the Shanghai plant now, Tesla began
slashing prices for its EVS in China, back in October with
further, reductions for model 3 and model y vehicles in January
by 6% to 13.5% and these price Cuts have fueled, a price War
among competitors, such as racing, Neo Volkswagen in.
Sadie's bends and as a result Tesla vehicles are now up to 14
percent cheaper than last year and in some cases nearly 50%
less expensive than those sold in the US and Europe.
Now the company has also implemented price reductions in
Europe, Mexico and the us over the past few months and in 2023.
Tesla dropped prices for model Y and model 3 vehicles in the US
by up to 20% while model. S&S Vehicles, so reductions of
up to nine percent. Now, the automaker relaunched
its Europe referral program last week to boost sales before the
quarters end, to help them increase profitability as well.
Now Tesla share price experienced a 4.2 or a 6.2 for
excuse me percent increase on Sunday during off trading hours,
following the announcements if it's quarter, one 2023
production and delivery results. This surge in value his much
needed after the last few months that we're kind of tumultuous.
And they're characterized by a plummeting share price of the
end of 2020 to do to Elon Musk buying Twitter.
In overhauling the social media platform.
Now investors were also wary the Tesla's widespread price cut
across the various markets including a seventy five hundred
dollar discount for u.s. buyers who took delivery before the end
of 2282 could signal low customer, demand going forward
during Tesla's quarter for 2022 earnings call, the January must
get tempted to alleviate investor concerns by stating
that And head and feet and fact surpassed production, he
acknowledged that price decreases in general inflation
could impact the, company's short term Automotive margins
however Tesla remains focused on its operating margin.
More information on how these Global price, reductions have
affected Tesla's. Overall business will become
available when the company reports, its q1 earnings on
Wednesday, April 19th. And at the end of 2020 to Tesla
declared its intention to stay ahead of its long-term, fifty
percent compound annual growth rate targeting approximately 1.8
million cars for the year. Tesla has again, demonstrated
its capability to break records? This time in quarter one 2023
with this delivery and production numbers.
The Shanghai gigafactory has also played a significant role
in these achievements in the aggressive price cutting
strategy and China. And other markets has ignited a
fierce price War amongst competitors while some investors
initially viewed, these price Cuts as a possible sign of low
demand, Tesla has surged and the delivery numbers suggest
otherwise and as the company gears up for the release of its
quarter one earnings on April 19th, all eyes will be on how
these Global price reductions have impacted Tesla's overall
Financial Health. With the goal of maintaining its
long-term 50 percent, compound annual growth rate in producing
1.8 million vehicles. In 2023, Tesla has ambitious
plans for expansion show, No signs of slowing down now.
Tesla's continued success in the EV Market has significant
implications, not only for just Tesla, but also for the wider
Auto industry as more, automakers look to transition to
Evie's and electric vehicles. Tesla's market, dominance
inability to adapt to various regions, and pricing structures,
serve as a template for growth in the future, and for
Innovation for those Other EV companies.
Now Tesla has a global demand for EVS, other companies will be
getting on board in Tesla's record-breaking.
Q1 2023 results, showcase the growing influence of the EV
market and the company's ability to maintain its position as a
front-runner in the race to revolutionize personal
Transportation as Tesla continues to push the boundaries
of what's possible in TV manufacturing.
It also paves the way for A more sustainable future one EV at a
time, whether it's through Tesla, or any other automaker.
That's in this industry. Thank you so much for listening
to the Elon Musk pod today. My name is Will Walden if you
enjoy Elon Musk news SpaceX Tesla, boring Company neurolink,
please take a second and subscribe or follow on whatever
platform you're on right now. I greatly appreciated helps out
the show a little bit and you get the news directly on your
device every single. Day.
Thanks again for listening. Take care.
And I'll see you in the next one.
Day. Thanks again for listening.
Take care. And I'll see you in the next
one.