On Wednesday, Tesla released its report on the third quarter’s vehicle deliveries and production.
Following the release of the news, the stock dropped as much as 3.7% on Monday AM.
These are the crucial figures: Deliveries made in total in Q3 2024: 462,890 Quarter 3 of 2024 output total: 469,796 Based on projections provided by FactSet StreetAccount, analysts had projected deliveries of 463,310 for the period ending on September 30.
The closest approach to the reported units sold by Tesla, deliveries are not stated in the company’s financial reports. On Wall Street, this measure is among the most heavily monitored.
Tesla claimed 435,059 deliveries and 430,488 EVs produced at that same time last year. The company reported producing 410,831 vehicles and making 443,956 deliveries in the most recent quarter.
Li Auto and Nio, two of the new generation of automakers, along with BYD and Geely, are putting further pressure on Tesla to compete, particularly in China.
Rivian and other EV rivals are developing in the US, but traditional manufacturers Ford and General Motors are selling more electric cars after reversing their earlier, more aggressive plans to electrify their fleet.
Source (CNBC)
