Tesla (TSLA) released its 2024 full-year and Q4 vehicle production and delivery numbers yesterday. The electric vehicle automaker showed impressive figures against expectations.
Tesla delivered a total of 1,773,443 electric vehicles in 2024. Analysts predicted that the automaker wouldn’t achieve its goal in Q4, but Tesla sold an impressive 495,570 EVs in the last quarter alone.
To surpass the 2023 vehicle deliveries of more than 1.8 million, Tesla needed to sell more than 35,138 cars in Q4 2024. However, it fell a little short of the target but still performed better compared to other electric vehicle manufacturers around the globe.
Tesla Vehicle Production and Deliveries – Year 2024
| Production | Deliveries | |
|---|---|---|
| Model 3/Y | 1,679,338 | 1,704,093 |
| Other Models | 94,105 | 85,133 |
| Total | 1,773,443 | 1,789,226 |
Tesla sold 1.2 million Model Y electric SUVs in 2023 which accounted for more than 66% of overall vehicle deliveries in that year. The rumors of a Model Y refresh codenamed Project Juniper lowered the interest in the vehicle throughout 2024.
The automaker launched the new design-refreshed Model 3 Highland in Europe in September 2023 and in the United States in Q1 2024. This strategy by Tesla proved to be a good sales catalyst during last year. Although the company’s car sales dropped around 20% in Q1 2024, Tesla regained its delivery momentum by the 2nd quarter.
Tesla vehicle sales grew further in Q3 compared to the previous quarter and the same quarter last year. Even with a record last quarter, the automaker did not reach or surpass the sale of 1.8M vehicles in the year 2023. However, it was just a slight drop considering the overall industry situation and global economic conditions.
Tesla (TSLA) Q4 2024 Vehicle Deliveries
| Production | Deliveries | |
|---|---|---|
| Model 3/Y | 436,718 | 471,930 |
| Other Models | 22,727 | 23,640 |
| Total | 459,445 | 495,570 |
In a quarter-over-quarter (QoQ) comparison with Q3, Tesla vehicle deliveries grew by more than 12.5%. In Q3 2024, Tesla delivered 439,975 cars vs 495,570 units in Q4 2024.
Looking at the sales figures in Table 2 above, we can clearly see that Tesla Model 3 and Model Y EVs mostly contributed to the growth achieved in the last quarter of 2024.
Tesla sold 439,975 units of Model 3 and Model Y in Q3 2024 and the devlieries in Q4 increased to 471,930 (sales of additional 31,955 units).
The ‘Other Models’ segment did not grow significantly. This includes Model S/X and the Cybertruck. Compared to Q3, these 3 vehicles only grew by 725 units in Q4. These numbers also suggest that Cybertruck deliveries didn’t make a marginal improvement in growing Tesla vehicle deliveries and sales.
As we discussed earlier, the main contributor of Tesla sales right now is the new Model 3 Highland, even in China. Strong rumors of Model Y Juniper coming in 2025 has affected this model’s sales and even Elon Musk acknowledged that on X (Twitter) but he probably later on deleted that tweet.
Tesla introduced its updated Referral Program in November. The new perks and program structure helped boost the Q4 end-of-year sales for the automaker.
Tesla (TSLA) stock price closed at $379.28 at NASDAQ yesterday. A sharp decline since 24th Dec. 2024 when it closed at $462.28 (down almost 18% since Christmas).
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 stock price goes down as the automaker posts its Q4 2024 and full year vehicle production and delivery numbers (comparison with 2023, more).){kind=link}