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Tesla posted its second-quarter vehicle production and delivery report for 2023 on Sunday.

Here are the key numbers from the electric vehicle maker:

Total deliveries Q2 2023: 466,140

Total production Q2 2023: 479,700

The numbers beat analysts’ expectations and indicate that deliveries rose 83% year-over-year for Tesla after Elon Musk’s auto business added manufacturing capacity, and ramped up production at is vehicle assembly plant in Austin, Texas.

Tesla groups deliveries into two categories but does not report individual model or region-specific numbers.

The second quarter of 2023 marked the fifth period in a row when Tesla reported a higher level of vehicles produced compared to deliveries.

During the second quarter of last year, Tesla reported 254,695 deliveries, and in the first quarter of 2023, Tesla reported 422,875 deliveries. During the second quarter of 2022, Tesla produced 258,580 vehicles and last quarter it produced 440,808 vehicles.

Deliveries are a carefully watched number by Tesla shareholders and are the closest approximation of sales disclosed by the company. Tesla does not break out its deliveries by individual model or region.

Wall Street was expecting Tesla to report deliveries of 445,924 for the period ending June 30, 2023, according to analyst estimates compiled by FactSet-owned Street Account.

The independent researcher who publishes under the handle TroyTeslike was expecting deliveries of 448,000 and production of 471,355 vehicles.

CEO Elon Musk’s electric vehicle maker offered some discounts and other incentives to boost sales of its cars in the U.S. during the quarter, including on its Model 3 entry-level sedan, and more recently, its older Model X SUV and Model S flagship sedan, which represent a small percentage of overall sales for Tesla currently.

The Model 3 and Y are now eligible for a $7,500 tax credit in the U.S. under the Inflation Reduction Act.

About 96% of the deliveries Tesla reported in the second quarter of 2023 were of its Model Y crossover, and Model 3 entry-level sedan in this quarter.

Piper Sandler senior research analyst Alexander E. Potter wrote in a note on June 26, that according to the firm’s analysis, “Prices have been stable,” for Tesla during the second quarter on balance. The company’s steep discounts in and beyond China in the first quarter sparked cries of a “price war” in the electric vehicle market. Potter cautioned that “Price cuts in Q3, if any, could reignite concern re: margins,” for investors.

Tesla currently operates vehicle assembly plants in Fremont, California, Austin, Texas, and overseas in Shanghai and Brandenburg, Germany (outside of Berlin). The company also makes the Semi, a heavy-duty electric truck, at its battery plant in Sparks, Nevada. Deliveries of the Semi began in December 2022 but Tesla still isn’t producing the trucks in high volumes.

In March, Musk announced that Tesla plans to build a new factory near Monterrey, Mexico, a day’s drive from its Austin, Texas factory. After meeting with India Prime Minister Narendra Modi in New York in June, Musk said Tesla was also looking to invest in India “as soon as humanly possible,” too.

The company is expected to begin selling a partly revamped version of the Model 3 in North America this year. At an annual shareholder meeting in May, Musk also said Tesla will deliver its first Cybertruck pickups in 2023 and is developing a new kind of drive unit and other technology that should allow it to deliver a more affordable electric vehicle in the future.

Anticipation for newer and more affordable models could continue to put pressure on sales, along with rising competition, especially in China.

Musk, who is also executive chairman and CTO of Twitter and CEO of SpaceX, wrote in a tweet ahead of the second-quarter deliveries report: “Please advise people to be wary of margin loans. Tesla has always been a high variability stock, often with no obvious rhyme or reason. We are confident about long-term value creation, but cannot control the manic-depressive nature of the stock market.”

Tesla shares closed at $261.77 on Friday ahead of the second-quarter deliveries report. The company said, in a statement, it will post financial results for the second quarter after the market close on Wednesday, July 19, 2023. 

CNBC’s Ashley Capoot contributed reporting.

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Nvidia positioned to weather Trump tariffs, chip demand ‘off the charts,’ says Altimeter’s Gerstner

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Nvidia positioned to weather Trump tariffs, chip demand 'off the charts,' says Altimeter's Gerstner

Altimeter CEO Brad Gerstner is buying Nvidia

Altimeter Capital CEO Brad Gerstner said Thursday that he’s moving out of the “bomb shelter” with Nvidia and into a position of safety, expecting that the chipmaker is positioned to withstand President Donald Trump’s widespread tariffs.

“The growth and the demand for GPUs is off the charts,” he told CNBC’s “Fast Money Halftime Report,” referring to Nvidia’s graphics processing units that are powering the artificial intelligence boom. He said investors just need to listen to commentary from OpenAI, Google and Elon Musk.

President Trump announced an expansive and aggressive “reciprocal tariff” policy in a ceremony at the White House on Wednesday. The plan established a 10% baseline tariff, though many countries like China, Vietnam and Taiwan are subject to steeper rates. The announcement sent stocks tumbling on Thursday, with the tech-heavy Nasdaq down more than 5%, headed for its worst day since 2022.

The big reason Nvidia may be better positioned to withstand Trump’s tariff hikes is because semiconductors are on the list of exceptions, which Gerstner called a “wise exception” due to the importance of AI.

Nvidia’s business has exploded since the release of OpenAI’s ChatGPT in 2022, and annual revenue has more than doubled in each of the past two fiscal years. After a massive rally, Nvidia’s stock price has dropped by more than 20% this year and was down almost 7% on Thursday.

Gerstner is concerned about the potential of a recession due to the tariffs, but is relatively bullish on Nvidia, and said the “negative impact from tariffs will be much less than in other areas.”

He said it’s key for the U.S. to stay competitive in AI. And while the company’s chips are designed domestically, they’re manufactured in Taiwan “because they can’t be fabricated in the U.S.” Higher tariffs would punish companies like Meta and Microsoft, he said.

“We’re in a global race in AI,” Gerstner said. “We can’t hamper our ability to win that race.”

WATCH: Brad Gerstner is buying Nvidia

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YouTube announces Shorts editing features amid potential TikTok ban

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YouTube announces Shorts editing features amid potential TikTok ban

Jaque Silva | Nurphoto | Getty Images

YouTube on Thursday announced new video creation tools for Shorts, its short-form video feed that competes against TikTok. 

The features come at a time when TikTok, which is owned by Chinese company ByteDance, is at risk of an effective ban in the U.S. if it’s not sold to an American owner by April 5.

Among the new tools is an updated video editor that allows creators to make precise adjustments and edits, a feature that automatically syncs video cuts to the beat of a song and AI stickers.

The creator tools will become available later this spring, said YouTube, which is owned by Google

Along with the new features, YouTube last week said it was changing the way view counts are tabulated on Shorts. Under the new guidelines, Shorts views will count the number of times the video is played or replayed with no minimum watch time requirement. 

Previously, views were only counted if a video was played for a certain number of seconds. This new tabulation method is similar to how views are counted on TikTok and Meta’s Reels, and will likely inflate view counts.

“We got this feedback from creators that this is what they wanted. It’s a way for them to better understand when their Shorts have been seen,” YouTube Chief Product Officer Johanna Voolich said in a YouTube video. “It’s useful for creators who post across multiple platforms.”

WATCH: TikTok is a digital Trojan horse, says Hayman Capital’s Kyle Bass

TikTok is a digital Trojan horse, says Hayman Capital's Kyle Bass

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Tech stocks sink after Trump tariff rollout — Apple heads for worst drop in 5 years

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Tech stocks sink after Trump tariff rollout — Apple heads for worst drop in 5 years

CEO of Meta and Facebook Mark Zuckerberg, Lauren Sanchez, Amazon founder Jeff Bezos, Google CEO Sundar Pichai, and Tesla and SpaceX CEO Elon Musk attend the inauguration ceremony before Donald Trump is sworn in as the 47th U.S. president in the U.S. Capitol Rotunda in Washington, Jan. 20, 2025.

Saul Loeb | Via Reuters

Technology stocks plummeted Thursday after President Donald Trump’s new tariff policies sparked widespread market panic.

Apple led the declines among the so-called “Magnificent Seven” group, dropping nearly 9%. The iPhone maker makes its devices in China and other Asian countries. The stock is on pace for its steepest drop since 2020.

Other megacaps also felt the pressure. Meta Platforms and Amazon fell more than 7% each, while Nvidia and Tesla slumped more than 5%. Nvidia builds its new chips in Taiwan and relies on Mexico for assembling its artificial intelligence systems. Microsoft and Alphabet both fell about 2%.

Semiconductor stocks also felt the pain, with Marvell Technology, Arm Holdings and Micron Technology falling more than 8% each. Broadcom and Lam Research dropped 6%, while Advanced Micro Devices declined more than 4% Software stocks ServiceNow and Fortinet fell more than 5% each.

Read more CNBC tech news

The drop in technology stocks came amid a broader market selloff spurred by fears of a global trade war after Trump unveiled a blanket 10% tariff on all imported goods and a range of higher duties targeting specific countries after the bell Wednesday. He said the new tariffs would be a “declaration of economic independence” for the U.S.

Companies and countries worldwide have already begun responding to the wide-sweeping policy, which included a 34% tariff on China stacked on a previous 20% tax, a 46% duty on Vietnam and a 20% levy on imports from the European Union.

China’s Ministry of Commerce urged the U.S. to “immediately cancel” the unilateral tariff measures and said it would take “resolute counter-measures.”

The tariffs come on the heels of a rough quarter for the tech-heavy Nasdaq and the worst period for the index since 2022. Stocks across the board have come under pressure over concerns of a weakening U.S. economy. The Nasdaq Composite dropped nearly 5% on Thursday, bringing its year-to-date loss to 13%.

Trump applauded some megacap technology companies for investing money into the U.S. during his speech, calling attention to Apple’s plan to spend $500 billion over the next four years.

Evercore ISI's Amit Daryanani on keeping Apple's outperform rating despite tariffs

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