London Daily

Focus on the big picture.

Tesla vehicle sales up 36% in first quarter after price cuts

Tesla vehicle sales up 36% in first quarter after price cuts

Elon Musk has previously said that affordability is the "limiting factor" for many would-be Tesla owners.
Tesla saw its sales rise by 36% in the first financial quarter, after two price cuts aimed at boosting demand.

The electric car, SUV and heavy truck manufacturer said it delivered 422,875 vehicles worldwide between January and March - up from just over 310,000 a year ago.

Over the same period it produced 440,808 vehicles - more than it sold - after increasing production at new factories near Austin (Texas), Berlin and Shanghai.

Some 412,180 Model Ys and Model 3s were sold in the quarter - up almost 40% from the 295,324 sold a year ago.

But sales of the Model X large SUV and Model S sedan fell nearly 38% to 10,695.

Tesla cut prices worldwide by as much as 20% in January, and made some further cuts in March.

The 36% rise in vehicle sales falls short of the company's promise to increase deliveries by about 50% per year for the foreseeable future.

Early in March, chief executive Elon Musk admitted that affordability remains the "limiting factor" for many would-be Tesla owners.

The top-selling Model Y starts at $54,990 in the US, while the Model 3's base price is $42,990. A Model S has a starting price of $89,990, while the X starts at $99,990.

Tesla shares have risen more than 68% this year, but they remain more than 50% below their November 2021 peak.

Concerns have been raised in recent months that Mr Musk is spending more time focusing on Twitter - the social media platform he bought in October last year for $44bn.

The company will release its first-quarter financials after the markets close on 19 April.
Newsletter

Related Articles

London Daily
0:00
0:00
Close
IT'S HAPPENING: Absolutely massive protest in Brazil today for free speech, against their corrupt Supreme Court judge
Huawei Poised for Major AI Chip Unveil at Shenzhen Event
CIA and MI6 Chiefs Unite Amid Global Crises
UK Tycoon Mike Lynch's Cause of Death Revealed: Autopsy Report
Mass Protests Erupt Across France Against New Prime Minister Barnier
Iranian Plots to Kill Jews in Europe Unveiled
Nvidia’s AI chips are cheaper to rent in China than US
China ends tariffs on all goods exported to China from the poorest countries in the world it has diplomatic ties with, including 33 African nations
Blinken May Not Seek Another Term Due To Family Priorities
Labour Pushes for Special Tribunal Against Russia for Ukraine Invasion
Oil Companies to Contest Judicial Review of North Sea Projects
Ed Balls Urges Keir Starmer and Rachel Reeves to Address Winter Fuel Payments Controversy
British Army Major General Dismissed for Unwanted Advances
Campaigners Urge Bold Actions to Combat Rising Heart Disease in UK
UK Requires One Trillion Pounds Investment for Economic Growth
Plan to House Asylum Seekers at Former Dambusters Home Dropped
UK Drops Indecent Assault Charges Against Harvey Weinstein
Return of Brazilian Artworks to Bahia
UK Signs Landmark International AI Treaty
Demand for Justice After Death of Ugandan Runner Set on Fire
Ukraine's Major Government Reshuffle: Andrii Sybiha Appointed New Foreign Minister
North Korea Executes Officials Over Flood Response
French Woman Testifies in Landmark Rape Trial
Sicily Yacht Disaster: Fatal Asphyxiation Claimed More Lives
Michel Barnier Appointed as Prime Minister of France
The art technique of Grandma Mei Ling, age 82
Mongolia Refuses to Arrest Putin Despite ICC Warrant
UK State Pension to Increase by Over £400 Annually
Amazon Announces 10% Pay Increase for UK Workers
Grenfell Tower Fire Inquiry Demands Swift Justice
French Police Clear Migrant Camp Near Calais
New Law Proposes Jail Time for Covering Up Sewage Dumping in England and Wales
John Swinney's Government Programme Faces Criticism in Scotland
France Pilots Mobile Phone Ban in Schools
Priti Patel Eliminated in First Round of Tory Leadership Race
And Justice for ALL: Elon Musk threatens to go after Brazilian government assets
WHO-Led Study Finds No Link Between Mobile Phones and Brain Cancer
US Charges Hamas Leaders With Terrorism Over October 7 Attack on Israel
Russian Missile Strike Kills 49 in Poltava, Ukraine
Major Cabinet Resignations in Ukraine
Tory Leadership Candidates Criticize Rivals' Promises to Leave ECHR
Campaigners Propose Pay-Per-Mile Charge for UK Electric Cars
Labour Urged to Shift Asylum Policy Rhetoric
Hossein Shamkhani: The Rise of an Oil Tycoon
Putin Defies ICC Arrest Warrant with Mongolia Visit
Frenchman On Trial for Decade-long Abuse of Drugged Wife
The British bus driver explains to usual suspects that they cannot travel without a ticket. Education is important.
Irish Police Arrest Enoch Burke, the teacher who refuses to endorse and affirm transgender ideology
US Soldier Attacked in Turkey
Switzerland Urged to Reconsider Its 500-Year Neutrality
×