Tesla saw its sales rise by 36% in the first financial quarter, after two price cuts aimed at boosting demand.
The electric car, SUV and heavy truck manufacturer said it delivered 422,875 vehicles worldwide between January and March – up from just over 310,000 a year ago.
Over the same period it produced 44,808 vehicles – more than it sold – after increasing production at new factories near Austin (Texas), Berlin and Shanghai.
Some 412,180 Model Ys and Model 3s were sold in the quarter – up almost 40% from the 295,324 sold a year ago.
But sales of the Model X large SUV and Model S sedan fell nearly 38% to 10,695.
Tesla cut prices worldwide by as much as 20% in January, and made some further cuts in March.
The 36% rise in vehicle sales falls short of the company’s promise to increase deliveries by about 50% per year for the foreseeable future.
Read more:
Tesla investigated over steering wheels that can fall off
Record output for Tesla but deliveries still below estimates
Early in March, chief executive Elon Musk admitted that affordability remains the “limiting factor” for many would-be Tesla owners.
The top-selling Model Y starts at $54,990 in the US, while the Model 3’s base price is $42,990. A Model S has a starting price of $89,990, while the X starts at $99,990.
Tesla shares have risen more than 68% this year, but they remain more than 50% below their November 2021 peak.
Concerns have been raised in recent months that Mr Musk is spending more time focusing on Twitter – the social media platform he bought in October last year for $44bn.
The company will release its first-quarter financials after the markets close on 19 April.