Tesla announced impressive delivery and production numbers for Q4 2024, showcasing strong performance and record-breaking achievements. Here’s a breakdown of the highlights:
Q4 2024 Performance:
Look at how many more cars were delivered compared to produced in Q4. Tesla has now delivered over 7.2 million EVs in its history. Combined annual growth rate in 2024 was 49%, compared to 55% in 2023.
Tesla deliveries have grown at less than a 50% CAGR over the past 11 years.
… they've grown at 49%. 😉 $TSLA pic.twitter.com/eROQFFrMi7
— James Stephenson (@ICannot_Enough) January 2, 2025
The company not only produced nearly 459,000 vehicles but also delivered over 495,000 units—setting a new quarterly record. Energy storage deployments, a critical part of Tesla’s sustainability mission, also hit a record high of 11 GWh during the quarter.
Full-Year 2024 Success:
Energy storage deployments are up over a whopping 240% year-over-year. However, vehicle deliveries were down 1.1% year-over-year.
For the full year, Tesla produced over 1.7 million vehicles and delivered close to 1.8 million, solidifying its position as a leader in the electric vehicle (EV) market. The company also deployed an impressive 31.4 GWh of energy storage products, supporting the growing demand for renewable energy solutions.
The Model 3/Y, Tesla’s best-selling vehicles, made up the majority of both production and deliveries, with 436,718 units produced and 471,930 units delivered in Q4 alone.
Other models, including the high-end Model S and X, contributed 22,727 units produced and 23,640 units delivered in Q4.
Tesla attributes its success to the dedication of its customers, employees, suppliers, shareholders, and supporters, who played a crucial role in achieving these milestones, according to its press release.
Looking ahead, Tesla will release its full Q4 financial results on January 29, 2025, with a live Q&A webcast scheduled for 4:30 p.m. Central Time.
Wedbush analyst and Tesla bull Dan Ives commented today, “TSLA announced its Q4 delivery numbers of 495.6k vehicles below the Street’s whisper numbers of ~500k. While knee jerk stock will be down we view these as respectable numbers with all of our focus on the 2025 growth story and autonomous vision. Buyers today on any sell-off.”
As of writing, shares of Tesla are trading at $383.26, down 5% for the day and down 16% for the week. As for 2025, Tesla has a lot lined up, with many expecting its Model Y ‘Juniper’ refresh to debut first in China this month.
