Anticipated rise in Tesla's electric car sales to approximately 463,000 units in the third quarter of 2024
Tesla Q3 2024 Financial Results: Sales and Production Figures Revealed
Tesla has announced its electric vehicle sales, production, and financial results for Q3 2024. The announcement, however, contained few other details.
The electric vehicle giant reported selling 462,890 electric vehicles in Q3 2024, meeting the average forecast of major banks. Of these, 443,668 were Model 3 and Model Y vehicles, with additional sales of 22,915 of other models. Production in the third quarter was slightly higher, with approximately 7,000 units more produced than sold.
The Tesla Cybertruck, which entered production at the end of 2023, saw no specific sales figures mentioned for Q3 2024. The company remains tight-lipped about the sales of its much-anticipated pickup truck.
In the energy storage business, Tesla reported an installed capacity of 6.9 gigawatt-hours in Q3 2024. This represents a 74% increase compared to the same quarter last year. However, it is lower than the record 9.4 gigawatt-hours achieved in the previous quarter.
The financial results will be published on October 23. The announcement initially sent Tesla's stock sharply down, with a loss of around 5%. This decline could be due to several well-known observers giving higher sales estimates compared to the actual figures.
Analysts had previously predicted a 6% increase in Tesla's sales compared to the third quarter of 2023. However, the second quarter of 2024 saw around 444,000 electric vehicle sales by Tesla, still below the previous year's level. The first quarter of 2024 saw even fewer sales, with 387,000 electric vehicles sold.
Despite the lower sales figures, Tesla continues to make strides in its energy storage business. The company aims to lead the way in sustainable energy solutions, providing clean, renewable energy to homes and businesses worldwide.
In conclusion, while Tesla's Q3 2024 sales figures did not meet all expectations, the company remains committed to its mission of accelerating the world's transition to sustainable energy. The financial results, to be published on October 23, will provide a more comprehensive picture of Tesla's performance in Q3 2024.
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