Tesla (TSLA) released its Q3 2024 vehicle production and delivery numbers yesterday.
Despite falling a bit lower than the expectations of the investors, Tesla demonstrated growth in vehicle deliveries compared to last quarter and the same quarter last year.
Q1 2024 was a disappointing quarter for Tesla but the company made a comeback in Q2 with a 15% growth in vehicle deliveries. Despite the overall economic situation and stiff competition from the Chinese EV makers, Tesla showed resilience and kept its pace in vehicle sales.
Tesla produced 469,796 electric vehicles in Q3 2024 and delivered 462,890 including Model S, X, 3, Y, and the Cybertruck.
An alleged teaser image of the Tesla Robotaxi (Cybercab) shared by the automaker’s official account on X (Twitter). Credit: Courtesy of Tesla, Inc. (TSLA).– Advertisement –
Production and deliveries for “Other Models” increased slightly compared to Q2. “Other Models” refers to Model S, Model X, and the Cybertruck. Tesla does not report Cybertruck delivery numbers separately.
Tesla’s production increased by around 14% QoQ while deliveries only gained a 4% growth in Q3 compared to Q2 this year. Compared to the same quarter last year (Q3 2023), Tesla deliveries grew by more than 6% YoY.
So far in 2024, Tesla has sold 1,293,656 (~1.3) million vehicles in total this year (Q1 to Q3 2024). The automaker will need to sell more than 500,000 vehicles in Q4 to surpass last year’s sales which does not seem likely looking at the current scenario.
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Model 3 and Model Y remain the main bread-and-butter winners for Tesla. This has been going on for years, Tesla Cybertruck despite its popularity, still has to go a long way before it becomes a mass-adopted electric pickup truck. With the polarizing views on the Cybertruck’s design, there is a slim chance it will ever come close to the sales of Model 3 and Model Y.
Tesla sold a combined 439,975 Tesla Model 3 and Model Y EVs in this quarter globally. The launch of the facelifted Model 3 Highland with design, performance, and tech improvements resulted in gaining back the demand for the Model 3 car that was fading away with the legacy model.
Tesla is working on a smaller vehicle platform that is aimed at increasing Tesla sales to the next level and making its EVs more affordable for the masses.
Tesla (TSLA) Q3 2024 Earnings Call Schedule
Tesla will post its financial results for the third quarter of 2024 after market close on Wednesday, October 23, 2024. At that time, Tesla will issue a brief advisory containing a link to the Q3 2024 update, which will be available on Tesla’s Investor Relations website. Tesla management will hold a live question-and-answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook.
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What: Tesla Q3 2024 Financial Results and Q&A Webcast When: Wednesday, October 23, 2024 Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time Q3 2024 Update: https://ir.tesla.com Webcast:https://ir.tesla.com (live and replay)
Approximately two hours after the Q&A session, an archived version of the webcast will be available on the Company’s website.
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