Elon Musk says Tesla (TSLA) Q3 2023 production will see a slight decrease from Q2

Musk attributed his expectation of lowered production to temporary factory closings for capability upgrades coming in Q3.

Image via Tesla

As Tesla heads into its third fiscal quarter this year, CEO Elon Musk had some caution for his expectations out of Q3 2023. During the Tesla Q2 2023 conference call, Musk took the mic to lay out opening comments on the company’s current state and plans for the rest of its fiscal year. One of the things spoken to during this conversation was that Musk expects production to see a slight decrease in Q3 2023, largely due to upgrades coming to various Tesla factories, which will leave them at least partially inactive while the upgrades are taking place.

Elon Musk shared his thoughts and expectations on production for Tesla’s Q3 2023 during the Q2 2023 conference call on July 19, 2023. Following the release of Tesla’s Q2 2023 earnings results, Musk opened the call with various comments regarding the Tesla company. One such thing mentioned was that Musk expected production in Q3 to be lower than in Q2.

“We expect that Q3 production will be a little bit down because we’ve got summer shutdowns for a lot of factory upgrades,” Elon said during the call. “So probably a slight decrease in production in Q3 for global factory upgrades.”

Tesla (TSLA) stock chart as of 3:52 p.m. PT on July 19, 2023.
Tesla (TSLA) stock dipped for a time after Elon Musk mentioned that production would see a slight decrease in Q3 2023.
Source: Google

Tesla’s stock dipped just slightly on Elon Musk’s commentary regarding production for Q3 2023. The company’s Q2 2023 came in ahead on earnings-per-share and revenue, with the company achieving decent results on with the looming launch of the Cybertruck, as well as deals signed to make Tesla Superchargers into universal charging options for electric vehicles with groups like Ford and General Motors.

It will be interesting to see what kind of upgrades come to Tesla factories in Q3 and how much of an effect they have on the company’s business during and after their completion. Stay tuned as we continue to cover Tesla and further tech and gaming fiscal news as quarterly earnings results continue to drop.

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.

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