Tesla produced and delivered fewer vehicles in 2024 compared to the previous year, despite setting records for deliveries and energy storage deployment in the fourth quarter.
Tesla 's production and delivery numbers for 2024 are in, and they are somewhat disappointing. The leading US EV company produced 1.77 million cars this year, a decrease of about 4 percent compared to the previous year, and delivered 1.79 million vehicles, approximately 1 percent less than 2023. Tesla also deployed 31.4 GWh in energy storage . However, the company reported a “record” fourth quarter for deliveries, with 495,570 vehicles reaching customers.
Tesla also stated that it deployed 11 GWh of energy storage products, which it also called a record. Production reached 459,445 vehicles, predominantly Model 3s and Ys. Despite this late-year surge, full-year figures fell short of 2023's performance. Tesla CEO Elon Musk had anticipated at the beginning of the year that increased competition and declining demand for the company's aging vehicle lineup would negatively impact its 2024 performance. Even the relative popularity of the Cybertruck, which began deliveries late last year, was insufficient to improve Tesla's overall performance for the year. Despite setting records for deliveries and energy deployment in Q4, the company still lagged behind Wall Street's projected delivery figures of 504,800 vehicles, according to Wedbush's Dan Ives. Tesla's stock price declined by approximately 5 percent following the discouraging news. The future remains uncertain for Tesla as Donald Trump assumes the presidency. Much has been discussed regarding Musk and Trump's developing alliance, but the incoming president is likely to rescind many of the incentives that contributed to making Tesla vehicles more affordable for consumers, including the $7,500 tax credit for new EVs. Musk has indicated that a more affordable Tesla is planned for 2025, and a fully autonomous Cybercab for 2026 — though both projects face significant challenges
ELECTRIC VEHICLES TESLA PRODUCTION DELIVERY ENERGY STORAGE
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