Tesla has reported a notable increase in global vehicle deliveries for the third quarter of 2024, marking a positive turnaround amidst a challenging electric vehicle (EV) market. The company delivered 462,890 vehicles from July to September, representing a 6.4% increase compared to the same period in 2023 when 435,059 vehicles were delivered.
- Quarterly Performance: This surge in deliveries comes after a sluggish first half of the year, where Tesla faced declining sales due to a broader slowdown in the EV market. In contrast, the third quarter has proven to be the most successful three-month period for Tesla in 2024.
- Year-to-Date Deliveries: As of the end of September, Tesla has delivered a total of 1,293,656 vehicles this year, which is a decrease of 2.3% compared to the same timeframe last year. The company delivered 1,808,581 vehicles in 2023, and with only three months remaining in 2024, it remains uncertain if it will meet or exceed that figure.
- Production Figures: Tesla's production also saw an uptick, with 469,796 vehicles manufactured in the third quarter, primarily consisting of Model 3 sedans and Model Y SUVs. This is an increase compared to previous quarters—433,371 units in Q1 and 410,831 units in Q2.
- Impact of Discounts: The increase in deliveries can be attributed to Tesla's aggressive discounting strategy aimed at boosting sales amid market challenges. This approach appears to be yielding results as consumer demand picks up.
- Australian Market Performance: In Australia, Tesla sales have reached 30,750 units by the end of September 2024, reflecting a decline of 19.1% compared to the same period last year.
Tesla's ability to increase vehicle deliveries in Q3 2024 demonstrates resilience amidst a fluctuating EV market. While challenges remain, particularly in sustaining growth and navigating market dynamics, the company's production and sales strategies appear to be effective at this juncture.
