Tesla sees EV deliveries drop year-over-year for the first time since 2020

It announced how many cars it delivered in the first three months of 2024, and the numbers were down significantly from both the previous quarter and the previous quarter. . Company 386,810 EVs during the period.

That’s down 20 percent from the 484,507 vehicles Tesla delivered in the fourth quarter of 2023 and eight percent year-over-year. It was Tesla’s first annual sales decline since 2020. notes. The numbers also fell well short of forecasts — analysts on average expected Tesla to ship 449,080 EVs.

There are some mitigating factors eg notes. Tesla had to close its factory in Germany for about a week due to the fire. It also halted most production at the Berlin-area facility for two weeks due to shipping disruptions caused by Houthi attacks on international shipping in the Red Sea. Tesla also hinted at an early rise in production as another reason for declining supplies.

Tesla said it produced 412,376 Model 3 and Y vehicles and 20,995 other models for a total of 433,371 units in the first three months of 2024. 369,783 of the deliveries were Model 3 and Model Y. The company did not disclose their number built and handed over.

As is often the case, Tesla tried several tactics to boost sales at the end of the quarter, such as once again offering a free trial of Full Self-Driving (which, despite its name, is not an autonomous driving system). The company also hinted to potential buyers on the fence that they should buy one of its EVs before the April 1 price hike. Company on Monday In the US, the price of each Model Y has been reduced by $1,000.

Earlier this year, Tesla CEO Elon Musk warned that the company was between “two big growth waves” — the Model 3 and Y boom and the lower-priced EV. It will arrive at the end of 2025. So he warned investors that Tesla would see “significantly subdued” sales growth this year.

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