Tesla Q3 2024 Sales Rebound Over Q2, Beat Q3 2023

Tesla sales rebounded in Q3, besting the automaker's Q2 result by approximately 20,000.

from left: Tesla Model S, Tesla Model 3, Tesla Model X and Tesla Model Y

Eric Loveday

By: Eric Loveday

Oct 2, 2024 at 9:16am ET

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Tesla released its much-anticipated delivery figures for the third quarter of 2024.
The automaker delivered 462,890 vehicles, its best result yet this year and a year-over-year gain.
After a rough first half, Tesla has a hill to climb if it wants to make 2024 a year of sales growth.

Tesla has just released its Q3 2024 production and delivery report. In Q3 2024, the automaker delivered a total of 462,890 vehicles. This soundly beats the 435,059 vehicles that Tesla sold in Q3 2023.

That 462,890 figure beats predictions from RBC analyst Tom Narayan, who stated that the firm’s prediction was that Tesla would sell 460,000 units. Tesla's deliveries for the quarter fell just shy of the approximately 463,900 that Wall Street analysts expected, according to data cited by Bloomberg.

Tesla has fallen short of the short of the 585,000 deliveries it needed in Q3 2024 to remain on track for its goal of 2 million vehicles delivered this year. However, after reporting a drop in deliveries in both the first and second quarters of 2024, Tesla is showing signs of a rebound. That's largely thanks to growth and new subsidies in China, the world's biggest auto market.

Still, amid larger headwinds in the EV market and a stale vehicle lineup, Tesla has an uphill battle ahead if it wants to end the year with higher sales than 2023's 1.8 million units. To match last year's deliveries, Elon Musk's automaker would have to deliver a record 515,000 cars in the last three months of 2024. Looking a head to 2025, new, more affordable models that Tesla has teased could jumpstart the company's growth.

The breakdown of vehicles delivered in Q3 2024 is 439,975 for the Model 3 and Model Y and 22,915 for the Model S, Model X and Cybertruck.

On the production side, Tesla made 443,668 Model 3s and Model Ys combined. The Tesla Model S, Model X and Cybertruck—listed as "Other Models" accounted for 26,128 vehicles produced. Total production for Tesla in Q3 2024 stood at 469,796, which is just a bit below deliveries.

Tesla stated, "In the third quarter, we produced approximately 470,000 vehicles, delivered approximately 463,000 vehicles and deployed 6.9 GWh of energy storage products."

Turning our attention directly to the Q3 2024 results, here's the graphic showing the figures:

Tesla will post its financial results for the third quarter of 2024 after market close on October 23, 2024.

Looking Back

In Q2 2024, the automaker delivered 443,956 cars. The breakdown of vehicles delivered in Q2 2024 is 422,405 for the Model 3 and Model Y and 21,551 for the Model S, Model X and Cybertruck.

On the production side, Tesla made 386,576 Model 3s and Model Ys combined. The Tesla Model S, Model X and Cybertruck—listed as "Other Models" accounted for 24,255 vehicles produced. Total production for Tesla in Q2 2024 stood at 410,831

For Q1 2024, Tesla delivered a total of 386,810 cars. Tesla lists Model 3/Y deliveries made up the bulk of the action with 369,783 delivered. Meanwhile, the combined Model S and Model X deliveries hit 17,027, or actually a tad lower, since some Cybertruck sales are likely included in the "other models" category.

On the production front, the combined figure for production of all Tesla vehicles hit 433,371 in Q1 2024. The breakdown shows that the Model 3/Y accounted for 412,376 of the total production figures, leaving the Model S/X (plus some Cybertrucks) at 20,995.

2024 Tesla Model 3 Performance

For Q4 2023, Tesla delivered a total of 484,507 cars. Tesla lists Model 3/Y deliveries made up the majority of sales with 461,538 delivered. Meanwhile, the combined Model S and Model X deliveries hit 22,969, or actually a tad lower, since some Cybertruck sales are likely included in the "other models" category.

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On the production front, the combined figure for production of all Tesla vehicles hit 494,989 in Q4 2023. The breakdown shows that the Model 3/Y accounted for 476,777 of the total production figures, leaving the Model S/X (plus some Cybertrucks) at 18,212.

For the whole of 2023, Tesla delivered 1,808,581 cars and produced 1,845,985 vehicles. The Model 3/Y accounted for the bulk of both figures. In 2023, Tesla delivered 1,739,707 Model 3/Ys and 68,874 "Other Models," which consisted of mainly the Model S and Model X, with perhaps a couple dozen Cybertrucks in the mix.

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