Tesla’s global deliveries in the third quarter of 2024 increased 6% year-over-year. That was the company’s third-best quarter ever, confirming that demand for the company’s vehicles is growing.
According to the company’s deliveries report, total vehicle deliveries in Q3 2024 were 462,890 units. Of those, 439,975 were Model 3 and Model Y, and 22,915 were other models, which includes Model S, Model X, and Cybertruck.
Tesla produced 469,796 vehicles last quarter. Of those, 443,668 were Model 3 and Model Y, and 26,128 were other models.
According to FactSet, analysts’ consensus forecast was for Tesla’s global deliveries in the third quarter to be 462,000 units. This means that deliveries slightly exceeded expectations, which is a good sign. In the past, analysts have often underestimated the company’s potential, but recently their forecasts have become more in line with reality.
The overall delivery figure is 6% higher than last year’s 435,000 Q3 deliveries and is Tesla’s third-best quarterly delivery figure. In the second quarter of 2023, the company delivered 466,140 vehicles and a record 484,507 deliveries occurred in the fourth quarter of 2023. Analysts predict that Tesla will repeat last year’s figure in the fourth quarter of 2024. However, as usual, more precise, adjusted forecasts will appear closer to the end of the quarter.
Along with the vehicle delivery numbers, Tesla also reported deplying 6.9GWh of energy storage products, down from the record 9.4GWh it reported in Q2.
Tesla shares fell 3.3% in premarket trading on Wednesday. They jumped 9.3% last week and 22% in September.
Tesla will post its financial results for Q3 2024 after market close on Wednesday, October 23, 2024. Traditionally, Tesla will issue a brief advisory containing a link to the Q3 2024 update, which will be available on Tesla’s Investor Relations website, and the company’s 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.
