Following pandemic-related disruptions in Q2, Tesla increased manufacturing capacity again last quarter, resulting in a record number of deliveries between July 1st and September 30th. During that time, the company produced 365,923 electric vehicles.
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This represents a nearly 54 percent increase in production year over year, with Tesla producing 237,823 vehicles in Q3 2021. Production increased by 41.5 percent compared to Q2 2022, when the automaker produced 258,580 vehicles.
In the third quarter, the company produced 19,935 Model S and Model X vehicles and delivered 18,672. The figures for the Model 3 and Model Y were 345,988 and 345,988, respectively.
In total, Tesla claims to have delivered 343,830 vehicles in Q3, the most in any quarter to date. According to Reuters, this was below expectations. Analysts predicted that Tesla would deliver 359,162 EVs during the quarter.
Tesla built around 20,000 more vehicles that it was able to deliver during Q3. “As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks,” Tesla said in a statement.
Elon Musk, Tesla’s CEO, stated last year that the company sees a significant increase in deliveries at the end of each quarter.
This is because the Shanghai Gigafactory, which recently produced its millionth vehicle, produces EVs for Europe and other countries in the first half of each quarter, “then cars for faraway parts of China, then cars for nearby parts of China,” Musk explained.
“In Q3, we began transitioning to a more even regional mix of vehicle builds each week, which led to an increase in cars in transit at the end of the quarter. These cars have been ordered and will be delivered to customers upon arrival at their destination,” Tesla said.
In Q2 2022, the number of cars manufactured and delivered by Tesla fell dramatically. Work at the Shanghai factory was forced to halt in March due to a COVID-19 outbreak in China.
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Production has resumed at the plant, and newly opened Gigafactories in Berlin and Texas have helped the company significantly improve its manufacturing numbers.
When Tesla releases its third-quarter financial results on October 19th, we’ll learn more about what the increase in production and deliveries means for the company’s bottom line.