San Francisco, Apr 3 (IANS): Elon Musk-run Tesla delivered a record 4,22,875 electric vehicles in the first quarter of 2023, beating the Wall Street estimates.

In the first quarter, the electric car-maker produced over 4,40,000 vehicles.

"We continued to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC," it said in a statement.

In the fourth quarter of 2022, Tesla delivered 4,05,278 and produced 4,39,701 units.

According to reports, a large percentage of deliveries came from vehicles produced in Shanghai gigafactory.

Tesla will post its financial results for the first quarter of 2023 after market close on April 19.

Tesla has adjusted the pricing for its electric vehicle in the US several times in the recent past.

The company has drastically lowered the prices of EVs across its lineup in the US and Europe, in an effort to boost sales as its stock plummeted more than 60 per cent earlier this year.

The least expensive EV, the Model 3 RWD, has dropped from $46,990 to $43,990.

Moreover, the Model Y Long Range's price decreased 20 per cent from $65,990 to $52,990.

Musk had hinted that more price increases may be on the way as Tesla adjusts to the demand created by the massive price cuts.

In the global passenger electric vehicle (EV) market, Tesla's Model Y remains the best-selling model globally followed by China-based BYD's Song model.