In the first quarter, Tesla's impressive production and delivery figures were clouded by less-than-impressive Model S and Model X sales performance. The report emphasized a huge gap between the number of produced vehicles and those delivered to customers: 19,437 and 10,695, respectively. This means that almost half of the Model S and Model X made in the first three months of the year failed to find an interested buyer.
Tesla fans tried to explain the big difference by saying most were in transit to various markets. It's true, Tesla ships them from Fremont all over the world, and they only started producing the HW4 refreshed models in February. This could be a valid explanation until we consider the number of cars in transit that weren't counted as delivered in Q4 2022. The gap was smaller then, from 20,613 produced to 17,147 delivered. Despite the massive price cuts in January, it widened, pointing to a sales crash.
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