Tesla's production and delivery numbers for 2024 are outsideAnd the numbers are grim.
The premier EV company in the US produced 1.77 million cars this year, down about 4 percent compared to earlier. last yearAnd 1.79 million vehicles delivered this year, or about 1 percent less than 2023. Tesla also deployed 31.4 GWh in energy storage.
That said, the company said it had a “record” fourth quarter in terms of deliveries, with 495,570 vehicles delivered to customers. Tesla also said it has deployed 11 gigawatts of energy storage products, a record. And it produced 459,445 vehicles, the majority of which were Model 3s and Ys.
But the year-end rally wasn't enough to bring the company's full-year numbers on par for 2023. And in fact, Tesla CEO Elon Musk Gave warning at the beginning of the year Increasing competition and reduced demand for the company's older lineup of vehicles was going to impact its overall performance in 2024. relative popularity Deliveries of the Cybertruck began late last year, enough to lift Tesla's fortunes this year.
And despite setting records for deliveries and energy deployment for Q4, the company still fell short of Wall Street's expectation of 504,800 vehicles delivered, according to Wedbush's Dan Ives. The disappointing news caused Tesla's share price to drop nearly 5 percent.
It is unclear how Tesla will operate in the new environment after Donald Trump's re-election to the presidency. Much has been said about Musk and Trump's growing alliance, but the incoming president is likely eliminate too many incentives This helped make Tesla vehicles more affordable for consumers, including a $7,500 tax credit on new EVs.
Musk said this More affordable Tesla ready for 2025And A fully autonomous cybercab for 2026 However, both projects face several hurdles. And of course, China dominates everything, as growing domestic EV production in the country puts pressure on US manufacturers doing business there. China is Tesla's largest and most important market, and the company has been losing market share to BYD and other major players.