• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Tuesday, October 7, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home Business

Elon Musk’s genius move: Tesla’s price cuts led to a sales surge in electric vehicles

...records 10% increase in deliveries compared to the first quarter

Auto Journal by Auto Journal
July 5, 2023
in Business, National, News, Politics
0
Elon Musk, CEO, Tesla

Elon Musk, CEO, Tesla

0
SHARES
4.6k
VIEWS
Share on FacebookShare on Twitter

Tesla achieved a remarkable feat in the second quarter by delivering a record number of electric vehicles, fueled by its strategy of price cuts that drove a surge in sales. Led by Elon Musk, the carmaker successfully delivered 466,000 vehicles from April to June, surpassing the average analyst forecast of 455,000.

This represented a 10 percent increase in deliveries compared to the first quarter and a substantial 83% increase from the same period last year. In addition to the impressive deliveries, Tesla also produced 480,000 vehicles during the quarter.

READ ALSO

Gulfstream’s $28m G300 jet sets new standard in super-midsize luxury travel

Renault plans to cut 3,000 jobs to stay competitive amid rising costs

The decision to reduce prices proved to be a shrewd move for Tesla, particularly in the Chinese market, according to analyst Dan Ives. While other electric vehicle companies are struggling, Tesla continues to demonstrate its strategic prowess, earning accolades for its exceptional performance.

The company’s focus on chess-like moves in the market sets it apart from its competitors playing checkers. These outstanding results reflect another triumphant quarter for Elon Musk and the Tesla team.

Tesla’s price cuts earlier in the year were aimed at stimulating demand, and the strategy seems to have paid off. Musk himself acknowledged that many potential customers desire a Tesla vehicle but find the prices beyond their means. By making these adjustments, Tesla has made a significant impact on the affordability of its vehicles, benefiting the average consumer.

The majority of Tesla’s deliveries comprised the Model 3 compact cars and Model Y sport-utility vehicles, which are part of the company’s mass-market offerings. Tesla also achieved 19,225 deliveries of its premium vehicles, the Model S and Model X. Moreover, the highly anticipated Cybertruck, Tesla’s contender in the pickup truck segment, is set to commence deliveries in the current quarter.

Tesla experienced a boost this year when industry giants such as General Motors, Ford, Volvo, and Rivian (backed by Amazon) agreed to adopt Tesla’s battery-charging standards. This collaboration further solidified Tesla’s position in the market and contributed to its success.

In all, Tesla’s record-breaking deliveries and impressive sales growth underscore its dominance in the electric vehicle industry. The combination of strategic price cuts, a diverse vehicle lineup, and influential partnerships positions Tesla as a force to be reckoned with in the evolving automotive landscape.

Read more on Top four profitable Tesla products you should know about

Tags: Around the worldautomotive industry.electric vehiclesElon MuskTesla

Related Posts

Gulfstream G300
Business

Gulfstream’s $28m G300 jet sets new standard in super-midsize luxury travel

October 7, 2025
Renault
News

Renault plans to cut 3,000 jobs to stay competitive amid rising costs

October 5, 2025
Nord Motors SUV
Business

Minister backs Nigerian innovation, picks Nord Demir as official vehicle

October 5, 2025
Uber for women in South Africa
Business

Uber launches women-only rides in South Africa to boost safety and trust

October 2, 2025
electric vehicles (EVs)
News

China to tighten EV exports with permit system after 1.65m shipped in 2024

September 27, 2025
Porsche Italia & Ferragamo - 911 and Taycan Models
Business

Investors punish Porsche as EV rollout stalls and profit forecast drops to record low

September 24, 2025
Next Post
2024 Kia EV9

Ready to rumble: Kia's 2024 EV9 takes on dominant Rivian's electric SUV

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

EV in Nigeria

Nigeria’s EV journey: High costs, low adoption, and a vision for the future

February 2, 2025
Cleaner transport: NEDC launches 1,000 Electric vehicles and health plan in Adamawa

Cleaner transport: NEDC launches 1,000 Electric vehicles and health plan in Adamawa

September 4, 2025
BYD plug-in hybrid electric vehicle (PHEV)

Chinese carmakers outsell Renault, Audi in Europe as plug-in hybrid sales jump 121%

September 24, 2025
Trump tarrifs

Trump’s tariffs threaten U.S. car prices, strain auto industry

November 27, 2024

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Tesla driver’s fury over autopilot ‘failures’ sparks fresh debate on safety and trust
  • Shell’s launches EV charging fluid that cuts charging time to 10 minutes
  • Gulfstream’s $28m G300 jet sets new standard in super-midsize luxury travel
  • New tech targets EV cable thieves as automakers push boundaries in range and innovation

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In