Tesla announced in its Q3 2024 financial report that it anticipates delivering more vehicles this year than it did in 2023, meaning the company is also anticipating record deliveries in Q4.
Tesla had a record year in 2023, delivering a total of 1,808,581 vehicles around the world. Even though that represented a new annual record for Tesla, CEO Elon Musk said there was a shot Tesla could reach 2 million deliveries in 2024 if things went well.
As the year progressed, it looked like Tesla was going to struggle to match, let alone surpass 2023 figures, as quarterly deliveries dipped slightly compared to the same periods in 2023. This slowdown can be attributed to various macroeconomic factors, including rising interest rates and inflationary pressures.
Through the first three quarters of the year Tesla has delivered 1,293,656 vehicles globally, compared to 1,324,074 in the same period in 2023. Despite the general market slowdown, Tesla is expecting Q4 2024 to set a new benchmark for deliveries.
In its Q3 2024 earnings report, the company said it expects to “achieve slight growth in vehicle deliveries in 2024.”
“Despite ongoing macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024. Energy storage deployments are expected to more than double year-over-year in 2024,” Tesla said.
That would mean Tesla is targeting to deliver around 515,000 vehicles in the final three months of the year, a figure that would not only surpass the company’s previous quarterly delivery record, but would also help push total 2024 deliveries to a new record.
This sentiment is seen in the current incentives Tesla is pushing in its home market of the United States and abroad. In the US there are several financial incentives currently being offered, including 0% financing on new Model 3 and Model Y purchases. The company is also offering free FSD transfers again, a move that entices existing owners to upgrade to a new car.
