Tesla (TSLA) announces Q2 deliveries: beat expectations

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Tesla (TSLA) has officially released its Q2 2024 delivery and production results. The automaker confirmed having delivered 444,000 electric vehicles last quarter.

Tesla Q2 expectations

Wall Street has adjusted its expectation this quarter to a consensus of about 438,000 deliveries, which is down from the 466,000 vehicles Tesla delivered during the same period in 2023.

As we reported last week, the expectation came down over the last few days after they were at ~450,000 deliveries last week.

Tesla Q2 results

Tesla confirmed that it produced 411,000 vehicles and delivered 444,000 vehicles – beating expectations by a slight margin:

In the second quarter, we produced approximately 411,000 vehicles and delivered approximately 444,000 vehicles. We deployed 9.4 GWh of energy storage products in Q2, the highest quarterly deployment yet.

For the first time in a while, Tesla delivered more vehicles than it produced, but that’s partly because tens of thousands of vehicles were in transit at the end of last quarter.

Tesla still doesn’t break down sales by models. It bundles Model 3 and Y together and all other vehicles in the same “other models” category:

Models Production Deliveries Subject to operating lease accounting
Model 3/Y 386,576 422,405 2%
Other Models 24,255 21,551 1%
Total 410,831 443,956 2%

Tesla also released its energy storage deployment, which was exceptionally high at 9.4 GWh this quarter.

That’s not only a new record, but more than twice the amount deployed in the last record quarter.

Tesla’s stock (TSLA) is up 5% on the news.

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