Tesla has wrapped up 2024 on a high note with an impressive delivery performance in the fourth quarter, but the year-end results show a slight decline compared to 2023. Let’s dive into the highlights of Tesla’s Q4 and full-year performance to see how the EV leader fared.
Q4 2024: Tesla’s Best Quarter Ever
Tesla delivered an outstanding 495,570 vehicles in Q4 2024, marking its best quarter to date. This result surpasses the previous record of 462,890 deliveries in Q3 2024, cementing the automaker’s ability to meet increasing consumer demand despite global market challenges.
Here’s the Q4 2024 breakdown:
- Model 3 and Model Y: 471,930 vehicles delivered
- Model S, Model X, and Cybertruck (listed as “Other Models”): 23,640 vehicles delivered
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On the production side, Tesla rolled out a total of 459,445 vehicles, slightly below the delivery figures, showcasing the company’s efforts to clear its inventory:
- Model 3 and Model Y: 436,718 vehicles produced
- Other Models (Model S, Model X, Cybertruck): 22,727 vehicles produced
Tesla also set another milestone by deploying 11.0 GWh of energy storage products, adding to its reputation as a leader in renewable energy solutions.
Full-Year 2024: A Mixed Bag
Despite a strong finish, Tesla’s total deliveries for 2024 fell slightly short of 2023. The company delivered 1,789,226 vehicles in 2024, a modest decline from the 1,808,581 vehicles delivered in 2023.
Here’s how Tesla’s 2024 deliveries compare by model:
- Model 3 and Model Y: Consistently dominated, making up the bulk of deliveries across all quarters.
- Other Models (Model S, Model X, and Cybertruck): Contributed significantly but remained a smaller slice of the total.
Quarterly Breakdown of 2024 Deliveries
Q1 2024
- Deliveries: 386,810 vehicles
- Model 3/Y: 369,783
- Other Models: 17,027
- Production: 433,371 vehicles
- Model 3/Y: 412,376
- Other Models: 20,995
Q2 2024
- Deliveries: 443,956 vehicles
- Model 3/Y: 422,405
- Other Models: 21,551
- Production: 410,831 vehicles
- Model 3/Y: 386,576
- Other Models: 24,255
Q3 2024
- Deliveries: 462,890 vehicles
- Model 3/Y: Majority of the total (exact figures not disclosed)
- Other Models: A smaller contribution compared to Model 3/Y
- Production: Figures not explicitly mentioned but closely aligned with deliveries.
Q4 2024
- Deliveries: 495,570 vehicles (new record)
- Model 3/Y: 471,930
- Other Models: 23,640
- Production: 459,445 vehicles
- Model 3/Y: 436,718
- Other Models: 22,727
Looking Back: Tesla in 2023 vs. 2024
While 2024 was a remarkable year for Tesla, it failed to surpass the delivery numbers achieved in 2023, when the automaker delivered 1,808,581 vehicles and produced 1,845,985 vehicles. The Model 3/Y accounted for the lion’s share of both production and deliveries, while the Model S/X (and a few Cybertrucks) contributed to the “Other Models” category.
In 2023, the Model 3/Y saw deliveries of 1,739,707 units, while “Other Models” added 68,874 units to the total.
The Cybertruck Factor
The Cybertruck played a noticeable, albeit small, role in Tesla’s 2024 deliveries. While production and delivery figures remain grouped with the Model S/X under “Other Models,” its growing presence suggests it could become a significant contributor in the coming years.
Upcoming Financial Results
Tesla plans to release its financial results for Q4 2024 after market close on January 29, 2025. Investors and enthusiasts alike will be keen to learn about the company’s revenue, profit margins, and outlook for 2025.
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What’s Next for Tesla?
With 2025 around the corner, Tesla is likely to focus on further production optimization, expanding its product lineup, and boosting delivery figures. The ongoing production of the Cybertruck and continuous innovation in battery technology and energy storage could provide fresh opportunities for growth.
As the EV market continues to heat up, Tesla remains a frontrunner. While 2024 saw slight setbacks in year-over-year sales growth, the company’s Q4 performance and record-breaking energy deployments underscore its resilience and ability to deliver excellence.
Stay tuned for Tesla’s Q4 2024 earnings report and its roadmap for 2025 as the automaker continues to drive the future of sustainable transportation.
