Hey, hello everyone, this is Chris Dawson, CEO of Arcimoto. Welcome to Q2 2023 report out. Here's our forward-looking statements. Naturally, everything short of historical data as presented are forward-looking statements, and what we believe to achieve as we accomplish our goals. In Q2, we were able to produce 94 units, at least for the, well, for the first half of the year. In 2023, we were able to produce 94 units. Of that, we delivered 65 customer vehicles in the second quarter, with an average sales price of $22,700, and delivered 102 year to date.
In June, we were excited to produce our 1,000th vehicle, and as of June 30, we had 665 customer FUVs on the road, 39 vehicles allocated to marketing, R&D, and internal fleet use, another 90 vehicles in the Arcimoto rental fleet for revenue generation. Tilting Motor Works completed delivery of 11 TRiO kits to customers with an average sale price of $14,285. Arcimoto achieved 954 rides for demo drives and rentals combined during the second quarter. Arcimoto also launched the Modular Utility Vehicle, or MUV, the first on-road modular utility vehicle in the company's lineup of small footprint electric vehicles dedicated professional and commercial use.
We'd really like to applaud the Arcimoto team, who delivered a solid quarter, sharp execution and improving operational efficiencies generated just over $1.7 million in revenue, and that's up 17% from 2022. We're continuing to see strength in our industrial and military markets with the MUV and a recent MATBOCK deal, and are confident in the pipeline deals coming to fruition. We also announced today our intention to sell our U.S. manufacturing facility, contingent upon lease agreement. This allows us to be very strategic and tactical about the space being used to keep the areas we need and relinquish those that we currently do not. This allows us to free up the capital that's currently locked up in the factory, so that we can apply that to growing current production to meet the oncoming demand.
The capital from the sale, coupled with our recent raise of $6.7 million, $4.3 million of which has already been received, and a follow-on $2.4 million in Q4 upon shareholder approval. These funds will be used to extend our runway and allow us to continue working toward our goals. Financial results for Q2. Total revenue for the second quarter of 2023 increased by 17% to $1.76 million, as compared to $1.5 million in the second quarter of 2022. Year to date, June 30, 2023, revenue increased by 45% to $3.1 million, as compared to $2.1 million in 2022.
The company incurred a net loss of approximately $13.2 million, or approximately $1.71 per share in the second quarter of 2023, compared with a net loss of $17.4 million, or $8.80 per share for the same year period. The company had $53.1 million in total assets, $1.3 million in cash and cash equivalents, and $32.7 million in total liabilities as of June 30, 2023. That's it for the report out. We did also have some questions submitted, so I'll run through. I think we've got 9 of those, and I'll run through those. Question one: As you just joined as Arcimoto's CEO in April, how has the process been so far, and what have been your key focuses?
So having held the seat, you know, having held the seat prior on Arcimoto's board before becoming CEO, has allowed me to hit the ground running, really understanding a lot of the problems from, from day one. My immediate focus has been on accelerating strategic partnerships, capital formation to the scale and continued refinement and growth of our sales efforts. This past quarter, I've helped the team facilitate a $6 million-$6.7 million, and I'm continuing to lead a strategic restructuring of the company. So really, it's getting production lined up and efficient and getting our cost savings down on the bottom, and now we can scale out with sales, and now you're starting to see that with things such as the, the MATBOCK deal. Question two: Can you tell me about the recent production and manufacturing activities?
So currently, as I just kind of reported out, the Arcimoto team's delivered a pretty solid quarter. Like I said, $1.76 million in revenue, which puts us up 17%. You know, we're continuing to see that strength, especially with the MUV and the military applications, so we really see that pipeline filling up here in the near future. In May, we unveiled the MUV, so that's a new category for us and really offering a true piece of capital equipment that is the right tool for the right job, which never really existed previously. So as far as activities, those would be the really biggest hits. Next question: I saw that your manufacturing facility is up for sale. Why is that?
I touched on that a little bit in the, in the brief, but you know, predominantly, that factory is currently not being utilized by Arcimoto. I'd say even more. If we look at it just from a under roof perspective, right, we have nearly 250,000 sq ft of that. We're using maybe 10%-15% really using, and then it's a 10-acre facility. And if you really look at that, or a 10-acre plot of land, if you look at that whole 10-acre footprint, we're maybe using 5% of that. So there's a huge opportunity for someone who wants to develop that land, as well as increase overall dollars per sq ft by conducting more contract manufacturing work, which we've been leveraging over the last few quarters. That's continuing to grow and provide another revenue opportunity for us.
Then this sale leaseback will allow us to access those funds that are really just hung up in the equity of that plant and allow us to really leverage those into production, which is where, you know, we're built to generate profit, right? Being a vehicle manufacturing company, we should be allocating all capital into that, and we're not at a stage where we should be investing in real estate. Question four: Arcimoto secured $6.7 million in funding this week. How do you plan to use these funds? It's a strategic move, and it propelling Arcimoto's mission of revolutionizing transportation.
The funds raised from the sale will play a pivotal role in scaling the production, investing in Arcimoto-owned dealerships, and advancing our cost down efforts, which, with some of the data that I just briefed, you can see that we're clearly on the right path, and that is indeed working. Question five: you recently announced a partnership with MATBOCK's military efforts. Can you tell me more about that and how the partnership came to be? So, this partnership, you know, brings together Arcimoto's expertise, electrical infrastructure, systems, architecture, and energy storage, with MATBOCK's overall leadership and design in the military space. They've got many, many products to market and recently rolled out a tactical vehicle prototyping arm.
And so when the opportunity presented itself to provide them with some electrical architecture, BMS, and other electrical-type components for current projects as well as future projects, we naturally jumped at the chance to do that, and the team has been working incredibly well together on both ends. So it's been an incredible relationship from the onset, and we're really looking forward to what's gonna come from that partnership. Next question: Arcimoto had a net loss of $13.2. How do you plan to balance costs of production and vehicles in order to achieve profitability? This is a drastic improvement from previous year, right, at $17.4. Confirming that our efforts to working on this, that we're on the right path, right? It's moving in the appropriate direction. That is a really big swing to see year-over-year.
So the cost reduction on the BOM, the manufacturing process, which we believe will tip into bill of material profitability come the fall, which is exactly what we promised at the NASDAQ briefing in May. So we're on track, and we're doing exactly what we said we were gonna do. Next question: Arcimoto's total revenues this quarter increased by 17% compared to the same period in 2022. What factors contributed to this growth? It's sharp execution on improving operational efficiencies, as well as leveraging underutilized manufacturing equipment. You know, we've got quite a bit of unencumbered manufacturing equipment that's not being utilized as it could have been.
One of the big things that we did since I came on was starting to roll that up, ramping those production efforts as it's a shorter-term revenue opportunity that allows us to really put a foot in the CM space and generate revenue while we continue to scale up the rest of the factory. I mean, continuing to scale production and leveraging that equipment is really what helped us generate that $1.76 in revenue. That's got us up 17% from 2022. Next question: How do you feel about reaching the significant milestone of producing our thousandth vehicle or your thousandth vehicle? I'm very proud of this, naturally. It's a big milestone. I think the last data that I looked at, we cumulatively driven 1.2 million miles.
So this is a product that's out there solving real problems for real customers. It's road tested, and it's got a bright future with that many vehicles operating on the road today. And then last question is: How do you envision the path to financial stability and long-term success in the EV market? Our long-term goal is to offer the market one of the most cost-effective, most efficient, last-mile, human and goods, you know, mobility platform, you know, for the future road, what we really see the future being. We intend that our platform will provide a ready foundation for driverless technology development and are demonstrating that capability today.
And so we, I mean, we here at Arcimoto, we understand that we're, we're ahead of the curve, and we think this is what the future of mobility will look like. And, we're seeing that more so internationally, and we know that here stateside, that'll eventually come around, to intersect that, and we'll be, we'll be there and ready to catch it with technology that's already developed and ready to go. So, we're really excited about what the future holds for Arcimoto. I'm really proud of the team for pushing so very hard, to keep us on the path, on the track, and, allowing us to continue to deliver on what we said we were gonna deliver on. So with that, I'd like to conclude the earnings call.
Thank you for everyone who submitted questions, and I look forward to talking to you guys in another three months. Thank you, everyone.