Tesla (TSLA) second quarter vehicle deliveries and production | Wilnesh News

Tesla Tuesday release Automobile production and deliveries in the second quarter of 2024.

Here are the key numbers:

Total vehicle deliveries in the second quarter of 2024: 443,956 vehicles

Total production in Q2 2024: 410,831 units

Tesla’s numbers beat Wall Street expectations. Analysts expect Tesla to deliver 439,000 vehicles in the three months ended June 30, according to consensus estimates compiled by FactSet StreetAccount. The total number of homes handed over in the second quarter dropped 4.8% from 466,140 units in the same period last year.

Troy Teslike is an independent researcher widely followed by Tesla fans. expected Deliveries for the quarter were 423,000 vehicles.

Deliveries are the closest figure to sales disclosed by electric car manufacturers. Tesla breaks deliveries into two categories — Model 3 and Model Y vehicles, and all other vehicles — but does not report numbers for single models or specific regions.

Tesla’s current product lineup includes the popular Model Y crossover utility vehicle, Model 3 sedan and new Cybertruck pickup truck, as well as the Model X SUV and flagship Model S sedan.

In April, Tesla reported an 8.5% drop in first-quarter deliveries to 386,810 vehicles, its first annual decline since 2020. was due to lower sales volume”. Average selling price.”

Tesla said the weak sales were partly due to the temporary closure of Tesla’s German factory due to an alleged arson attack, as well as shipping delays caused by the conflict in the Red Sea.

But the sales decline is also linked to Tesla’s aging vehicle lineup, increased competition from other electric car makers, especially China, and brand erosion. a recent survey Part of the reason is CEO Musk’s “antics” and “political rants.”

Tesla shares will still be down 16% in 2024 after rising 6% on Monday.

Tesla has offered a series of discounts and other incentives this year to try to spur sales.

Currently, Tesla has launched in China zero interest loan As an incentive, customers are encouraged to purchase a Model 3 or Model Y before July 31. ArchiveAmong them, Tesla’s total revenue in China is approximately US$21.75 billion, accounting for 22.5% of total sales.

Wells Fargo analyst Colin Langan issued a note on Monday saying the firm sees “lower demand and lower returns from price cuts leading to lower delivery growth.” He recommended selling Tesla stock.

Wells Fargo expects Tesla’s auto gross margin, excluding environmental credits, to decline given “the likelihood of further price cuts and lower sales” this year.

Investor focus will now turn to Tesla’s second-quarter earnings report later this month, as well as a separate marketing event planned for August, when the company intends to showcase its purpose-built robot taxi, or “CyberCab” the design of.

—CNBC’s Jordan Novet contributed to this report.