Tesla reported a slight decline in vehicle production and deliveries in 2024, producing 1.77 million vehicles and delivering 1.79 million. This marks a slight decrease compared to 2023, where the company produced and delivered 1.8 million vehicles.
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While the company achieved record quarterly deliveries of 495,570 vehicles in the fourth quarter and deployed a record 11 GWh of energy storage products, it fell short of Wall Street expectations, which had projected 504,800 deliveries.
Q4 2024
— Tesla (@Tesla) January 2, 2025
Production: 459,445
Deliveries: 495,570
Energy storage deployments: 11 GWh
A record for both deliveries & deployments
–
Full year 2024
Production: 1,773,443
Deliveries: 1,789,226
Energy storage deployments: 31.4 GWh
→ https://t.co/YF9iWpPuud
CEO Elon Musk previously warned that increased competition and declining demand for older models would impact Tesla’s 2024 performance. This prediction proved accurate, despite the growing popularity of the Cybertruck.
Tesla faces significant challenges, including increasing competition from domestic and international rivals, particularly from Chinese manufacturers like BYD. The return of [mention of the former president without directly naming him] to the presidency is also expected to negatively impact Tesla, as the elimination of EV tax credits could significantly impact consumer demand.
Looking ahead, Tesla aims to introduce a more affordable vehicle in 2025 and is developing a fully autonomous “Cybercab” for 2026, though these projects face considerable challenges.
