Tesla increases deliveries – but not production numbers
According to Tesla, the company produced 410,831 vehicles in the second quarter and delivered a total of 443,956 to customers. The surplus in deliveries can be explained by the situation in the first quarter: At the time, Tesla had built around 46,500 more vehicles than it was able to deliver by the end of the quarter. Some of the deliveries fell into the second quarter for logistical reasons.
This shows that the first quarter was not an isolated outlier. The hunt for ever-new quarterly records in production and deliveries has been interrupted for the moment. For the second quarter of 2023, Tesla had still built 479,700 electric cars and delivered 466,140 of them.
After six months, Tesla is below the results from 2023 in the current year: So far in 2024, 844,202 Teslas have been built and 830,766 delivered. By the end of June 2023, however, Tesla had already built 920,508 cars, of which 889,015 had been delivered. Production is therefore 8.3 per cent down on the previous year, while deliveries are down 6.6 per cent.
However, the usual picture emerges for the model series: At 422,405 units, the Model 3 and Model Y accounted for 95 per cent of all Tesla deliveries between April and June, with 386,576 Model 3/Ys produced. Looking at the national registration figures, the majority of these are likely to be Model Ys – Tesla itself does not provide a more detailed breakdown of 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 24,255 vehicles produced and 21,551 delivered.
At the start of the year, Tesla was unable to match the record set in the fourth quarter of 2023. After almost 500,000 units in the final quarter, production fell to 433,371 Teslas between January and March, which was still the fourth-best quarter in the company’s history. A total of 386,810 vehicles were delivered in Q1. Tesla itself had stated that the production ramp-up of the Model 3 Highland at the Fremont plant, plant closures following ship diversions due to the conflict in the Red Sea and an arson attack on the Gigafactory Berlin had had a negative impact on the first quarter.
This time, Tesla has not included such a justification or assessment of the Q2 figures in the emphatically brief communication on the production and delivery figures. Instead, it refers to the storage business with Powerwalls and Mega Packs in one sentence: “We deployed 9.4 GWh of energy storage products in Q2, the highest quarterly deployment yet.”
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 electric cars were produced and 422,875 delivered.
Tesla will present its financial figures for the second quarter on 23 July 2024, usually in the late evening German time. As usual, this will be followed by a live webcast with questions and answers from top management.
There may also be further statements from management and Elon Musk himself on the latest headlines about Tesla’s general direction. During the previous earnings call, as well as in an interview with the US portal Barron’s, Musk announced that Tesla would be focussing on robotics and sustainable energy in the future. With the humanoid robot called Optimus, Tesla wants to automate not only its own factories, but also private households. “Optimus could one day be our most important product,” said Musk according to the report. However, he left open what consequences this will have for electric car production and its internal significance at Tesla. Incidentally, Tesla has already given a possible hint itself: The Investor Relations website no longer shows a vehicle – but Optimus operating a laptop.
0 Comments