TESLA JUST ANNOUNCED RECORD DELIVERIES (Q1-23)

EV Channels Review

Tesla's Q1 2023 delivery and production report reveals record-breaking numbers, exceeding consensus expectations for deliveries by 0.3% and production by a slightly larger margin. The report highlights a production of nearly 441,000 vehicles and over 422,000 deliveries. While overall production is strong and on track for the year's guidance, Model S and X deliveries saw a slowdown, attributed to a transition in regional mix and potential customer anticipation for Hardware 4. The video notes an increase in inventory, with days of supply rising from 13 to approximately 16, which is still significantly below industry averages. Despite price cuts implemented during the quarter, the inventory build-up is a point of concern for investors, though the reviewer emphasizes that production is the more critical metric for long-term success. The upcoming earnings report will be crucial for understanding the impact of price cuts on margins.