Electric vehicle giant Tesla disclosed its production and delivery report in the second quarter of the year, beating sales slump estimates.
Wall Street consensus
In hindsight, Tesla’s Q1 2024 delivery figures were disappointing. The Musk-led electric automaker recorded a decline to sub-400,000 for the first time since Q3 2022.
Therefore, it is unsurprising that industry analysts expect Tesla to sustain its sales slump in Q2 2024 from the same period last year. Yet, it represents an increase from the previous quarter.
Wall Street projects Tesla to deliver about 438,019 electric vehicles in the second quarter.
Tesla’s Q2 2024 production and delivery figures
Tesla’s Q2 2024 production and delivery figures are a testament to the company’s resilience and growth. Impressively, Tesla managed to surpass the Wall Street consensus of 438,019 EVs in the second quarter of 2024.
Tesla’s deliveries reached a total of 443,956 EVs in the April to May 2024 period. Meanwhile, its production recorded a total of 443,956 EVs.
“In the second quarter, we produced approximately 411,000 vehicles and delivered approximately 444,000 vehicles. We deployed 9.4 GWh of energy storage products in Q2, the highest quarterly deployment yet.”
Tesla indicated in its Q2 2024 delivery and production report
Presented below are the breakdown of Tesla’s Q2 2024 production and delivery figures:
| Car Model | Production | Deliveries | Subject to Operating Lease Accounting |
| Model 3/Y | 386,576 | 422,405 | 2% |
| Other Models | 24,255 | 21,551 | 1% |
| Total | 410,831 | 443,956 | 2% |
Tesla stock rebounds
Tesla’s shares surged 9.71% in pre-market trading, while its gains increased to almost $220 per share.
Tesla shareholders are celebrating a strong month, as the company’s stock has climbed 19% in the last 30 days.
Tesla is set to release its Q2 2024 financial report on July 23, 2024, after market close. The Musk-led company will release a Shareholder Deck as the market closes that day. It will then provide a link to its Earnings Call.
Tesla’s Q2 2024 production and delivery figures are a good sign that the company is starting to rebound, even surpassing Wall Street’s expectations. It would be interesting to see how Tesla could reach its target of 2 million EV deliveries in 2024.
