Tesla announced third quarter deliveries that slightly missed expectations.
In the third quarter, Tesla produced 469,796 electric vehicles, compared with the 410,831 units produced in the second quarter, and delivered 462,890 electric vehicles, up 6.4% quarter over quarter and ahead of the 435,059 EVs the company delivered in the year-ago period.
The electric vehicle maker also deployed 6.9 GWh of energy storage products.
The vast majority of Tesla deliveries in Q3, 439,975 units, were its Model 3 and Model Y vehicles, its more affordable mid-range offerings. It delivered 22,915 units of its Model S, Model X and Cybertruck vehicles.
| Production | Deliveries | Subject to operating lease accounting | ||
| Model 3/Y | 443,668 | 439,975 | 3% | |
| Other Models | 26,128 | 22,915 | 1% | |
| Total | 469,796 | 462,890 | 3% | |
In the year-ago period, Tesla reported 435,059 deliveries and production of 430,488 EVs. Last quarter, the company reported 443,956 deliveries, and production of 410,831 vehicles.
Tesla is facing increased competitive pressure from big Chinese automakers like Geely and BYD, along with a new generation of automakers, including XPeng, Li Auto and Nio.
Tesla will post its financial results for the third quarter of 2024 after market close on Wednesday, October 23, 2024.
