Tesla sets new sales record after large price cuts

After having lowered the price of its electric vehicles at the year’s start, Tesla achieved a new personal sales record in Q1.
Photo: Arnd Wiegmann/Reuters/Ritzau Scanpix
Photo: Arnd Wiegmann/Reuters/Ritzau Scanpix
by RITZAU, translated by kristoffer grønbæk

In the first three months of 2023, Tesla managed to set a new quarterly record for the company’s sales of electric cars, according to a report issued by the automobile manufacturer on Sunday.

Overall, Tesla sold 422,875 electric cars, an increase of 36% compared to 2022’s first quarter and of 4% compared to the preceding quarter, writes Reuters.

The strong progress comes after Tesla in the early days of the year lowered the prices of its electric vehicles around the world by up to 20%.

Tesla CEO Elon Musk said in January that the company could sell up against 2 million electric cars during 2023.

In comparison, Tesla’s sales in 2022 amounted to 1.3 million vehicles.

Tesla’s Model 3 and Model Y cars were particularly popular during the first quarter, according to Reuters.

Overall, sales increased by 6% compared to the preceding quarter.

Sales of the Model X and Model S vehicles were a disappointment, though, as sales dropped by 38% compared to 2022’s last quarter.

Tesla has recently increased the pace of production at its factories in Texas and Berlin, both of which are able to manufacture approx. 4,000 vehicles per week.

At the same time, Chinese production is recovering after long periods with Covid-instigated lockdowns.

According to Reuters, a bank analyst at Barclays says that more Tesla price cuts could be underway due to increased competition in the market for electric vehicles.

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