Slashing Prices Led Tesla to Soaring Deliveries
Still, rising competition and an uncertain economy threaten EV maker's quarter-on-quarter sales growth.

Tesla put deliveries at 422,875 vehicles in the first three months, 36% higher than the same quarter in 2022.
IMAGE: Pexels/Craig Adderley
Tesla beat previous records for quarterly vehicle deliveries after cutting its prices. However, analysts warn rising competition and an uncertain economy may dampen the EV maker’s quarter-on-quarter sales growth.
The brand put deliveries at 422,875 vehicles in the first three months, up 4% from the previous quarter and 36% higher year-over-year.
Tesla delivered 6% more Model 3/Model Y vehicles in the first quarter over the fourth quarter. However, the number of deliveries for its higher-priced Model X/Model S vehicles plummeted 38%.
The automaker manufactured 440,808 vehicles in the first three months. Tesla tweeted out that its Texas factory built 4,000 Model Y cars last week. It reported in February that its German plant could produce 4,000 vehicles a week.
Tesla slashed its prices by as much as 20% in January after missing 2022 Wall Street delivery estimates. Now, the basic Model Y costs $54,990 compared to its previous price of $65,990.
"If they had not cut the price, it would have been ugly. I think what it tells you is the economy is getting tough," Gene Munster, managing partner at Deepwater Asset Management, told Automotive News.
More Dealer Ops

Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
Timing the Market Can Hurt Long-Term Program Performance
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
IA American Appoints Two Execs
Senior vice presidents of the company's agent and dealer channels chosen to support general agents and help auto dealers with sales and performance.
Read More →
Cox Automotive Acquires Inspection Firm
Full ownership of Alliance Inspection Management, or AiM, meant to unlock growth for Manheim inspection capabilities
Read More →
Assurant Expands Partnership With Holman
Extended collaboration delivers training, products and performance development to 30 newly acquired Holman dealerships
Read More →
Franchises, Throughput Down in First Half
A handful of states see franchise growth through June, while EV sales per store boost overall business in U.S.
Read More →