Join 34,000+ Traders & Investors by getting our FREE weekly Sunday Cheat Sheet email. Get key market news and events before everyone else. Click Here to See if you Qualify.
In a remarkable conclusion to 2023, Tesla Inc. has surpassed market expectations for its fourth-quarter deliveries. The electric vehicle giant strategically expedited deliveries of the Model 3, anticipating the expiration of federal tax credits for select variants under the Inflation Reduction Act (IRA).
Tesla, currently the world’s most valuable automaker, achieved a record-breaking quarter by delivering 484,507 vehicles, surpassing analysts’ estimates of 473,253 units. This surge in deliveries allowed the company to meet its ambitious 2023 target of 1.8 million vehicles.
The conclusion of federal tax incentives, particularly affecting the rear-wheel drive and long-range variants of the Model 3, led to an acceleration of sales in the final quarter. These variants no longer benefit from the $7,500 federal tax credit due to updated requirements on battery material sourcing.
The Q4 performance showcased an 11% increase in deliveries compared to the preceding quarter, despite challenges faced during Q3 as production was impacted by upgrades to assembly lines for the updated Model 3 mass-market sedan.
Tesla reported delivering 461,538 Model 3 cars and Model Y SUVs in Q4, with approximately 23,000 units of other models handed over.
The newly launched Cybertruck, while radically designed, is expected to contribute only a small fraction to Tesla’s overall deliveries this year.
CEO Elon Musk had previously outlined the company’s goal of producing about a quarter of a million units of the electric pickup truck by 2025.
Looking ahead, Tesla aims to deliver 2.2 million vehicles in the current year, marking a 22% increase. Although this growth is significant, it represents a slowdown compared to the impressive 38% growth achieved in 2023.
This Options Discord Chat is The Real Deal
While the internet is scoured with trading chat rooms, many of which even charge upwards of thousands of dollars to join, this smaller options trading discord chatroom is the real deal and actually providing valuable trade setups, education, and community without the noise and spam of the larger more expensive rooms. With a incredibly low-cost monthly fee, Options Trading Club (click here to see their reviews) requires an application to join ensuring that every member is dedicated and serious about taking their trading to the next level. If you are looking for a change in your trading strategies, then click here to apply for a membership.