Tesla’s year-over-year deliveries decreased for the second quarter in a row

Tesla announced second quarter indicators, the company produced 410,831 units and delivered 443,956 EVs in Q2. Production dropped to just over 20,000 units compared to the first quarter, but deliveries increased by about 15 percent. However, its distribution numbers are down 4.8 percent from the same period in 2023. Tesla notes that it “deployed 9.4 GWh of energy storage product in Q2, the highest quarterly deployment yet.”

The the automaker’s first quarter of 2024 For the first time since 2020, the company reported a decline in annual sales. The automaker attributed the decline, in part, to an “initial phase of a renewed production ramp.” Model 3 Factory outages at our Fremont factory and caused by ship sabotage caused by the Red Sea conflict and the Berlin Gigafactory fire.” A group of individuals called the “Volcano Group” claimed responsibility for the blackout at Tesla’s factory near Berlin. Tesla was the only one in Europe and the electricity had to close for a week until it was restored.

Note that on April 1, Tesla raised the price of each Model Y in the US by $1,000, but we’ll have to wait until July 23 to see if that affects the company’s second quarter financial results. Earlier this year, Tesla CEO Elon Musk said that a low cost EV It should arrive in the second half of 2025, but its production could dampen sales growth this year.

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