Tesla produced 430,488 vehicles in the third quarter of 2023, a 10 percent drop from the previous quarter but a 25 percent year-over-year increase for the company.
Tesla attributed the sequential drop in production to “planned downtimes for factory upgrades.” During a recent earnings call, Tesla CEO Elon Musk explained that the “summer shutdowns” were necessary for recent product upgrades, like the refreshed Model 3 and Model Y that were recently revealed for the Chinese market.
The company said it delivered 435,059 vehicles in Q3, a 6.6 percent decrease over the previous quarter but a 26.5 percent increase year over year.
Tesla missed the target on production and deliveries set by Wall Street investors, leading…
