Tesla production declines in the first quarter
Specifically, Tesla produced 433,371 vehicles in Q1 and handed over 386,810 to customers. Production was thus roughly on par with Q3 2023 and is still the fourth-best quarter in the company’s history. Tesla, however, usually celebrates records rather than the fourth-best results. And deliveries were surprisingly low: The last quarter result of under 400,000 units was in Q3 2022.
While Tesla rarely comments on current developments in the emphatically short announcements on production and delivery figures, this time, it wanted to explain the declining figures. “Decline in volumes was partially due to the early phase of the production ramp of the updated Model 3 at our Fremont factory and factory shutdowns resulting from shipping diversions caused by the Red Sea conflict and an arson attack at Gigafactory Berlin,” Tesla writes.
With regard to the model series, the usual picture emerges. The Model 3, and the Model Y are the volume models par excellence. The two mid-range models totalled 412,376 units built and 369,783 units delivered in the opening quarter. Looking at the national registration figures, most of these are likely Tesla Model Y – Tesla itself does not provide a more detailed breakdown between the two series. The other model series are not defined separately at all: The Model S, Model X and the Cybertruck are simply summarised under “other models” – with 20,995 vehicles produced and 17,027 delivered.
These 433,371 EVs produced in Q1 2024 also included one special model: As Tesla announced via X at the end of March, the manufacturer has produced its six millionth vehicle. It is a grey Model Y from US production.
In 2023 as a whole, Tesla produced 1,845,985 electric cars and delivered 1,808,581 of them to customers. Of these, 494,989 vehicles were built and 484,507 delivered in the fourth quarter, which were record figures at the time. In Q1 2023, 440,808 EVs were produced and 422,875 delivered.
Tesla will present its financial figures for the first quarter of 2024 on 23 April, followed, as usual, by a live webcast with questions and answers from top management. There may also be a statement on how many deliveries Tesla targets for 2024. As Tesla did not state any delivery targets for 2024 in the 2023 annual report either, there is still no target for the current year. The target for 2023, which was also narrowly achieved, was 1.8 million units.
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