Did a big Tesla price hike help the world’s biggest maker of only electric vehicles get back on track with sales and growth?
The short answer by the numbers appears to be: yes and no.
Tesla on Sunday reported that it delivered 422,875 vehicles over the first quarter of 2023. While that total was 4% higher than the previous quarter and 36% higher year-over-year, in weighing production and delivery numbers, there’s a concerning trend.
For the second quarter in a row, Tesla has produced significantly more vehicles than it has delivered to customers. And adding up the past four quarters, Tesla has built about 78,000 more vehicles than it’s sold, based on Tesla’s quarterly disclosures.
This follows an across-the-board Tesla price cut of up to 20% made in January, and an additional Model S and Model X price cut
![2023 Tesla Model X - Courtesy of Tesla, Inc. 2023 Tesla Model X - Courtesy of Tesla , Inc.](https://world-of-cars.net/wp-content/uploads/2023/04/do-latest-tesla-sales-numbers-suggest-more-price-cuts.jpg)
2023 Tesla Model X – Courtesy of Tesla, Inc.
The recent price cuts have already led to some downward adjustment—or at least a pause on the markups—for the rest of the EV market. The Ford Mustang Mach-E