Tesla Sells 150,000 Vehicles (est.) in the US During Q1 of 2023, up 33.9% (est.)

For an all-electric brand that begun less than 20-years to achieve a top 10 U.S. Auto Sales result must scare the hell out of competitors.

Wayne Gerdes – CleanMPG – April 2, 2023

2023 Tesla Model Y

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Tesla is an EV and clean energy company that was founded in July of 2003. The company is named after Nikola Tesla who is known for the modern alternating current (AC) electricity supply system.

In its early years, Tesla focused on developing electric sports cars, with the launch of the Tesla Roadster in 2008. The company later expanded its product line to include luxury electric sedans, with the introduction of the Model S sedan in 2012, and later, the Model X SUV in 2015.

The company’s long-term prospects were vastly improved with the introduction of the Model 3 in the summer of 2017 and the larger Model Y in March of 2020.

In addition to EVs, Tesla is also involved in the development of solar panels, energy storage systems, and related products.

Today, Tesla is one of the world's most valuable companies, with a market capitalization of $584 billion as of Friday’s close at $185/share.

Tesla Q1 2023 US Sales

Tesla for a yet unknown reason only releases global quarterly results so a regions sales are only approximations. That stated, Tesla sold approximately 150,000 units in Q1 of 2023 (est.), up 33.9% over the 112,000 sold in Q1 of 2022 (est.). This overall sales result estimate has now achieved Top 10 OEM overall US sales results in any quarter for the very first time. Tesla now outsells iconic OEM names like Subaru, Volkswagen, BMW, Mazda, Mercedes Benz, Audi, and Porsche to name a few within the U.S.

Model Y sales of 85,000 (est.) in Q1 of 2023 were up 67.3% over the 50,800 (est.) sold in Q1 of 2022. The Model Y may have outsold the Toyota RAV4 in any quarter for the very first time. That is some doing!

The Model 3 reached the Top 10 in any quarter for the very first time as well with sales of 63,800 (est.) in Q1 of 2023, up 36.3% over the 46,800 (est.) sold in Q1 of 2022.

With the Model Y and 3 US Q1 sales estimates of 143,800 and Tesla publicly stating they "produced" 19,437 Model S and Xs while selling "just 10,695 Model S and X vehicles worldwide", that would lead to a U.S. total sales figure more along the lines of 150k Q1 US vehicles sold (est.), not 170k estimated as most sources are quoting. How the hell did the US Auto and Investor web sites "****" up this estimated result so badly is mind blowing.

Q1 2023 US Auto Sales

1. GM - 603,208 units sold in Q1 of 2023, up 17.6% over the 512,846 sold in Q1 of 2022
2. Ford - 475,906 units sold in Q1 of 2023, up 10.1% over the 432,132 sold in Q1 of 2022
3. Toyota - 469,558 units sold in Q1 of 2023, down 8.8% below the 514,592 sold in Q1 of 2022
4. Stellantis - 368,327 units sold in Q1 of 2023, down 9.1% below the 405,221 sold in Q1 of 2022
5. Honda - 284,507 units sold in Q1 of 2023, up 6.8% over the 266,418 sold in Q1 of 2022
6. Nissan - 235,818 units sold in Q1 of 2023, up 17.3% over the 201,081 sold in Q1 of 2022
7. Hyundai - 184,449 units sold in Q1 of 2023, up 15.5% over the 159,676 sold in Q1 of 2022
8. Kia - 184,136 units sold in Q1 of 2023, up 21.8% over the 151,194 sold in Q1 of 2022
9. Tesla - 150,000 units sold in Q1 of 2023 (est.), up 33.9% over the 112,000 sold in Q1 of 2022 (est.)
10. Subaru - 143,376 units sold in Q1 of 2023, up 8.3% over the 132,346 sold in Q1 of 2022

Q1 2023 Top 10 US Auto Sales Leaders

1. Ford F-Series - 170,377 vehicles sold in Q1 of 2023, up 21.1% over the 140,701 sold in Q1 of 2022
2. Chevrolet Silverado - 126,992 vehicles sold in Q1 of 2023, up 4.9% over the 121,107 sold in Q1 of 2022
3. Ram P/U - 105,350 vehicles sold in Q1 of 2023, down 17.1% below the 127,116 sold in Q1 of 2022
4. Tesla Model Y - 85,000 (est.) sold in Q1 of 2023, up 67.3% over the 50,800 (est.) sold in Q1 of 2022
5. Toyota RAV4 - 84,704 vehicles sold in Q1 of 2023, down 16.3 percent below the 101,192 sold in Q1 of 2022
6. Nissan Rogue - 76,499 vehicles sold in Q1 of 2023, up 69.1 percent over the 45,235 sold in Q1 of 2022
7. Honda CR-V - 67,241 vehicles sold in Q1 of 2023, up 14.8 percent over the 58,579 sold in Q1 of 2022
8. GMC Sierra - 67,198 vehicles sold in Q1 of 2023, up 18.7 percent over the 56,617 sold in Q1 of 2022
9. Toyota Camry - 66,037 vehicles sold in Q1 of 2023, up 7.4 percent over the 61,505 sold in Q1 of 2022
10. Tesla Model 3 - 63,800 (est.) sold in Q1 of 2023, up 36.3% over the 46,800 (est.) sold in Q1 of 2022

 

Hi All:

Tesla is really moving around their retail pricing as of late. Down one week, up a few weeks later...

2023 Tesla Model 05/01/2023 Pricing

Model 3 Std - $40,240 + $1,390 D&H + $250 Order fee = $41,880, up $250
Model 3 Performance - $53,240 + $1,390 D&H + $250 Order fee = $54,880, up $250

Model Y - $47,240 + $1,390 D&H + $250 Order fee = $48,880, up $250
Model Y Long Range - $50,240 + $1,390 D&H + $250 Order fee = $51,880, up $250
Model Y Performance - $54,240 + $1,390 D&H + $250 Order fee = $55,880, up $250

Model S - $87,490 + $1,390 D&H + $250 Order fee = $89,130, up $2,500
Model S Plaid - $107,490 + $1,390 D&H + $250 Order fee = $109,130, up $2,500

Model X - $97,490 + $1,390 D&H + $250 Order fee = $99,130, up $2,500
Model X Plaid - 107,490 + $1,390 D&H + $250 Order fee = $109,130, up $2,500

Wayne

 

Hi All:

And just like that, boom...

Tesla Stock Price Action June 2021 - June 2023

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Wayne

 

Hi All:

While I wait for the Q2 earnings on the 19th of this month, Tesla did release their Q2 Global sales results.

2023 Tesla Model Lineup


Model S, 3, X, and Y.​

Tesla Global Vehicle Production & Deliveries for Q2 2023

In the second quarter, Tesla globally produced nearly 480,000 vehicles and delivered > 466,000 vehicles.

Q2 2023 production and deliveries

Model -- Production|Deliveries
S/X -- 19,489|19,225
3/Y -- 460,211|446,915
Total -- 479,700|466,140

2023 YTD production and deliveries

Model -- Production|Deliveries
S/X -- 38,926|29,920
3/Y -- 881,582|859,095
Total -- 920,508|889,015

Q2 2023 and YTD delivery vs Q2 2022 and 2022 YTD deliveries

Tesla Q2 2023|Q2 2022|% Chg --- 2023 YTD|2022 YTD|% Chg
S/X -- 019,225|016,162|+15.9% --- 029,920|030,886|-03.2%
3/Y -- 446,915|238,533|+46.6% --- 859,095|533,857|+37.9%
Totals|466,140|254,695|+45.4% --- 889,015|564,743|+36.5%

TSLA Stock Price action July 2021 - July 2023

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With all of the news about GM, Ford, and Rivian to name a few migrating to the inclusion of Tesla's NACS charging plug standard, it is certainly not harming the stock. With sales increasing at an excellent 36% YOY rate, a PE of 82 indicates the stock is ridiculously overpriced. What growth stock in the NASDAQ is not in this day and age however?

TSLA's current market cap of $880 billion is almost twice as large as Toyota ($264 billion USD), VW ($76 billion USD), GM ($54 billion USD), Ford ($61 billion USD), Hyundai/Kia ($38 billion USD) COMBINED.

Wayne