Tesla has released its vehicle production and delivery numbers for the first quarter of 2024, showcasing significant output despite facing some operational headwinds. In the first three months of the year, the company produced over 433,000 vehicles and delivered approximately 387,000 to customers worldwide. Alongside vehicle manufacturing, Tesla’s energy storage solutions also saw a record deployment, reaching 4,053 MWh in Q1, marking its highest quarterly deployment to date.
The report indicates that the slight decrease in overall volumes was partly attributed to the production ramp-up of the updated Model 3 at the Fremont factory. This transition phase naturally impacts immediate output as new processes are implemented and optimized. Additionally, Tesla’s production was affected by external factors such as shipping diversions due to the Red Sea conflict and a disruptive arson attack at Gigafactory Berlin, which led to temporary factory shutdowns.
| Production | Deliveries | Subject to operating lease accounting | |
|---|---|---|---|
| Model 3/Y | 412,376 | 369,783 | 2% |
| Other Models | 20,995 | 17,027 | 1% |
| Total | 433,371 | 386,810 | 2% |
The detailed breakdown reveals that the Model 3 and Model Y, Tesla’s high-volume vehicles, accounted for the vast majority of both production and deliveries, with 412,376 and 369,783 units respectively. The “Other Models,” which include the Model S and Model X, contributed 20,995 units in production and 17,027 in deliveries. Notably, a small percentage of both categories, 2% for Model 3/Y and 1% for Other Models, are subject to operating lease accounting.
Looking ahead, Tesla is set to announce its full financial results for Q1 2024 on Tuesday, April 23, 2024, after market close. Following the announcement, Tesla management will host a live question and answer webcast at 4:30 p.m. Central Time (5:30 p.m. Eastern Time). This webcast will provide an opportunity to delve deeper into the company’s financial and operational performance and outlook. Interested parties can access the Q1 2024 update and the webcast through Tesla’s Investor Relations website at https://ir.tesla.com. An archived version of the webcast will be available on the website approximately two hours after the live session concludes.
While these delivery and production figures offer a snapshot of Tesla’s activities in Q1 2024, Tesla clarifies that these numbers are not direct indicators of the full quarterly financial results. The company’s overall financial performance is influenced by a range of factors, including average selling prices, cost of sales, and foreign exchange fluctuations, which will be comprehensively detailed in the Q1 2024 10-Q filing, set to cover the quarter ending March 31, 2024. For further inquiries, investors are directed to contact Tesla Investor Relations at [email protected].
