Tesla delivered 422,875 electric vehicles for the first three months of this year, up 4 percent from the previous quarter. This was 36 percent higher than a year ago.
In January, Chief Executive Elon Musk said Tesla could achieve 2 million vehicle deliveries this year, up 52 percent from last year.
In January, Tesla slashed prices globally by as much as 20 percent. The basic Model Y that used to sell for $65,990 now costs $54,990.
Elon Musk, who has missed his own ambitious sales targets for Tesla in recent years, said in January that 2023 deliveries could hit 2 million vehicles, absent external disruption, from 1.3 million in 2022.
Tesla delivered 6 percent more of its mainstay Model 3/Model Y vehicles in the first three months of this year than in the previous quarter. But the number of deliveries for its higher-priced Model X/Model S vehicles slumped by 38 percent.
The carmaker produced more cars than it delivered, manufacturing 440,808 vehicles for the first three months of this year.
The automaker ramped up production at new factories in Texas and Berlin, and as China production recovered from a COVID-19 lockdown hit. Tesla tweeted on Sunday that its Texas factory built 4,000 Model Y this week, while the automaker said in late February that its German plant was producing 4,000 cars per week.
Tesla’s cuts in China ignited a price war, with Chinese rivals including BYD and Xpeng dropping prices to defend market share amid weakening demand.
Market leader BYD accounted for 41 percent of so-called new energy car sales in the world’s biggest auto market for the first two months of the year. Tesla, by contrast, had a share of 8 percent.