Tesla’s final Q4 of 2024 presents a story of contrasting fortunes, with vehicle deliveries falling short of expectations while its energy division achieves unprecedented growth. The electric vehicle giant delivered 495,570 cars in Q4, missing Wall Street’s projected target of approximately 507,000 units.
The company’s Q4 production reached 459,445 vehicles, contributing to a total of 1,789,226 deliveries for 2024 – marking a slight 1% decrease year-over-year. This represents the first annual decline in Tesla’s delivery history, signaling potential market saturation in certain regions.
While vehicle deliveries faced headwinds, Tesla’s energy storage business emerged as a standout performer. The company deployed a record-breaking 11 GWh of energy storage in Q4 2024, skyrocketing 243% compared to the same period last year. Surpasses their previous record of 9.4 GWh set in Q2. Shanghai Megafactory has commenced test production, positioning Tesla for potential growth acceleration in early 2025.
Despite the Q4 delivery shortfall, Tesla crossed a significant milestone, surpassing 7 million total vehicle deliveries since the Model S began production in 2012. The current cumulative delivery count stands at 7,186,380 vehicles.
Related Post
Tesla Q3 2024 Report: EV Deliveries 462,890 Vehicles, Energy Storage Soars 73% YoY
Tesla Q3 2024 Earnings Call Reveals FSD Updates, MPI Improvements, and Expansion Plans
Tesla Battery Heating for V3 and V4 Superchargers Cold Weather EV Charging 4X Faster