Tesla deliveries fall compared to the same quarter last year
The downturn in electric mobility has not spared Tesla either: Analysts had already lowered their expectations beforehand, but instead of nearly 423,000 cars in the first quarter of 2023, Tesla only delivered 386,810 cars in the first quarter of 2024. This marks the first time in four years that the automaker reports a decline in deliveries compared to the previous quarter. Originally, the expectation was even 449,000 units. The production figures, however, were not quite as dramatic: a total of 433,371 vehicles were built, compared to 440,808 in the same quarter last year.
Heavy Reliance on Model 3 and Model Y
This year, the already struggling Tesla stock temporarily fell by 576 percent to $165.13 in US trading on the NASDAQ on April 2, but has since recovered somewhat – albeit at a low level.
The Model 3 and the compact SUV Model Y once again accounted for around 96 percent of deliveries. Unfortunately, Tesla did not provide figures for the new electric pickup "Cybertruck," which has been sold in the US for several months. This means that neither the revised Model S and Model X nor the Cybertruck are able to reduce Tesla's reliance on the top sellers.
Global Growth of the E-Car Market Slows Down (Too Early)
And after years of continuous growth in Tesla deliveries, the growth rate in the electric car market worldwide has stalled since the beginning of the year: In many EU countries, subsidies have expired, in the US car buyers are increasingly opting for combustion and hybrid vehicles, and in China, domestic manufacturers like BYD and others are putting pressure. Production is also not going as planned: At the factory in California, production has been switched to the newer version of the Model 3, which had already been completed in China. And in recent months, Tesla had to temporarily shut down production in Grünheide due to supply shortages of parts caused by ship diversions following attacks by Yemeni Houthi rebels in the Red Sea and after an attack on the plant's power supply.
What does that mean?
It's not as dramatic as it seems, the drop at Tesla: Because with over 300,000 units in the quarter, Tesla has already reached the annual production of many European brands within half a year, even though they are organized in groups. To really catch up with BMW, Mercedes-Benz, and Co., around 500,000 units plus or minus x would be necessary. We will see how the brand continues to develop. But as long as it makes money... even for Tesla, the end of permanent growth had to come eventually – just as it will for BYD and Co. as well....
Translated automatically from German.
Elektromobilität , Newsletter Elektromobilität , IAA Mobility , SUVs und Geländewagen , Hybrid , Antriebsarten, Kraftstoffe und Emissionen , Oberklasse- und Sportwagen , Carsharing , Autonomes Fahren (Straßenverkehr) , Ladeinfrastruktur , Verkehrspolitik , Formel E , Brennstoffzellen , Fahrzeug-Vernetzung und -Kommunikation , Fahrzeuge & Fuhrpark , Automotive-Messen & Veranstaltungen , Pkw, Kompakt- und Mittelklasse , Minis und Kleinwagen , E-Auto-Datenbank, E-Mobilität-/Automotive-Newsletter, E-Auto-Tests