Tesla’s Sales on the Rise

Tesla’s vehicle sales have shown an upswing following two consecutive quarters of decline.

The company announced it produced 469,796 vehicles during the three-month period ending in September, marking a 9.1 percent increase compared to the third quarter of 2023. Additionally, Tesla reported delivering 462,890 vehicles to customers in Q3 of 2024, reflecting a 6.3 percent rise from Q2 2023.

This improvement is further emphasized by a 14.4 percent increase in production and a 5.8 percent increase in delivery compared to the second quarter of 2024, indicating that Tesla is manufacturing and selling more vehicles than earlier in the year.

While the potential contribution of the Cybertruck is notable, Tesla does not provide separate figures for this model. The majority of its production and delivery consists of the Model 3 and Y vehicles—443,668 produced and 439,975 delivered in Q3—while other models, including the Model S, X, Cybertruck, and Tesla Semi, are grouped under the “other models” category.

Despite these gains, Tesla faces ongoing challenges. The overall growth rate of EV sales has slowed compared to several years ago, as more customers opt for hybrids over pure battery-electric vehicles. This situation potentially places Tesla at a disadvantage against legacy automakers that offer more diversified product lineups.

Furthermore, Tesla is encountering increased competition both in the US and China, where companies like BYD and Geely are achieving record EV sales. As Tesla does not disclose regional sales figures, it is difficult to accurately assess its strengths and weaknesses in various markets.

The company is scheduled to release its full third quarter earnings report on October 23rd. Prior to this, on October 10th, Tesla is anticipated to unveil its long-awaited “robotaxi,” with CEO Elon Musk expected to present a compelling vision for Tesla’s future in AI and robotics.

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