Tesla said Sunday it delivered 422,875 electric vehicles<\/a> in the first quarter of 2023, just beating Wall Street estimates of around 420,000 units. The company produced 440,808 vehicles in the same period.<\/p>\n The delivery and production numbers are record results for the EV maker. In the fourth quarter of 2022, Tesla delivered 405,278<\/a> and produced 439,701 units. Those Q4 deliveries were also record results, but they missed Wall Street expectations.<\/p>\n It appears that a large percentage of deliveries came from vehicles produced by Tesla\u2019s Shanghai gigafactory. The automaker has been issuing price cuts in all markets, including China, where the most recent discounts have caused a price war<\/a> among competitors. The result is an increase of Tesla sales in China from last year, which suggests the East Asian country is helping to boost Tesla\u2019s global delivery numbers.<\/p>\n Tesla doesn\u2019t break down its delivery and production numbers by region, but according to data from the China Passenger Car Association (CPCA), Tesla collectively sold 140,453 China-made vehicles in January<\/a> and February.<\/a> The CPCA hasn\u2019t yet published March\u2019s data. If Tesla\u2019s March deliveries in China match February\u2019s numbers, it would mean more than 50% (or nearly 215,000) of Q1 deliveries came from Shanghai.<\/p>\n \u00a0<\/p>\n Tesla\u2019s Q1 2023 delivery and production numbers.\u00a0Image Credit:\u00a0<\/strong>Tesla, via screenshot<\/p>\n<\/div>\n Tesla started cutting prices for its EVs in China in October. Most recently, Tesla again reduced the prices of Model 3 and Y there in January by between 6% and 13.5%<\/a>, adding fuel to the fire of a price war in the country. Rivals Xpeng and Nio, as well as international brands like Volkswagen and Mercedes-Benz, also discounted their prices to compete with Tesla cars, which are now up to 14% cheaper than last year. In some cases, they\u2019re almost 50% less expensive than in the U.S. and Europe.<\/p>\n The automaker mirrored similar price cuts in Europe, Mexico and the U.S. over the past few months. This year, Tesla dropped prices for Model Y and Model 3 vehicles<\/a> in the U.S. by up to 20%, and Model X and Model S<\/a> vehicles by up to 9%. Last week, Tesla also relaunched its European referral program<\/a> to try to increase sales before the end of the quarter.<\/p>\n Tesla\u2019s share price rose 6.24% Sunday (in off trading hours) following the automaker\u2019s quarterly production<\/a> and delivery results.<\/p>\n Tesla needed a strong result after a volatile last few months in trading. At the end of 2022, Tesla\u2019s share price plummeted<\/a> amid CEO Elon Musk\u2019s overhaul of Twitter. Investors were also concerned last year that the many discounts Tesla implemented across markets \u2014 including a $7,500 discount<\/a> for U.S. buyers who took delivery before year\u2019s end \u2014 might indicate low demand from customers.<\/p>\n![\"Tesla's](\"https:\/\/techcrunch.com\/wp-content\/uploads\/2023\/04\/Screen-Shot-2023-04-03-at-8.15.59-am.png\")
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