In the statement Tesla said it delivered 466,140 vehicles in the second quarter, exceeding expectations despite a challenging market. These figures represent an 83% increase compared to the same period last year and a 10% increase compared to the first three months of 2023.

These results are significantly higher than analysts’ forecasts, which were expecting fewer than 450,000 vehicles delivered, especially given the difficulties of the current car market.

A price cut that worked

Between April and June, Tesla also produced 479,700 vehicles, registering an increase of 85% compared to the previous year, thus also exceeding market expectations at this level. In the first half of the year the manufacturer produced 920,508 carswhich is just over half of the 1.8 million target set for 2023.

The price cut introduced at the start of the year has clearly paid off, and this in particular has kept demand fairly strong, with production now being held up by a shortage of materials that looks set to disappear soon.

The opposite strategy

During a conference call announcing first-quarter results in late April, Tesla CEO Elon Musk said: “We decided to sell more volume and build a bigger fleet rather than sell less with a higher margin”.

A strategy that runs counter to that recently adopted by other manufacturers, starting with Renault or Volkswagen, who no longer want to focus on volume, but on “quality” with fewer cars sold but more expensive cars sold.

In the United States, Tesla also benefited from a recent review of the eligibility of its models, allowing them to benefit from the full $7,500 tax cut “proposed” by the Biden administration. Until now, Model 3 buyers could only claim half of that amount because some parts were made in China.

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