Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens Wu Yanzu in South China for the delivery of clues! CTOnews.com, April 3, Tesla delivered a record number of cars in the first quarter of this year after Elon Musk decided to reduce the price of Tesla electric vehicles.

Tesla delivered 422875 cars in the first three months of 2023, up 4 per cent from the previous quarter. Tesla also produced a record 441000 cars during that period, the company announced on Sunday.

Compared with the first quarter of 2022, Tesla's car production increased by 44 per cent and delivery increased by 36 per cent. But even so, it is below Tesla's long-term annual growth target of 50 per cent.

Mr Musk cut the price of Tesla cars by as much as 9 per cent last month to boost sales in a tougher economy and fend off competition from established carmakers such as Rivian and Polestar polar stars and electric car companies.

"people's desire to own a Tesla is very high, and the limiting factor is that they cannot afford to buy it," Mr Musk said at Tesla Investor Day in early March. "

"We made a price adjustment at the beginning of this year," said Tom Zhu, Tesla's senior executive in charge of global production and sales. "after that, we actually generated huge demand, which really exceeded our production capacity. As Elon said, as long as you provide valuable products at an affordable price, you don't have to worry about demand."

Daniel Ives, an analyst at Wedbush Securities, said the price cut had brought "huge dividends" to Tesla.

"We believe that Chinese consumer demand for Tesla has improved this quarter, which is the key to the company's exceeding 'delivery expectations'," Daniel Ives said in the report. "the biggest problem will be profit margins, as price cuts will have an impact on this."

Tesla has set a goal of increasing production more than tenfold to 20 million cars a year by 2030. According to Zach Kirkhorn, chief financial officer of Tesla, the cost of achieving this goal could be as high as $175 billion (CTOnews.com Note: currently about 1.2 trillion yuan).

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