In the current Tesla quarterly report the company shows itself to be on a promising path back to its former strength. After a mixed second quarter, the Tesla significantly increased its production figures in the third quarter of 2024 and is thus approaching its annual targets again.
Production figures rise by 14.3%
In the third quarter of 2024 Tesla in total 469,796 vehicles were produced. This corresponds to an increase of 14.3 percent compared to the previous quarter. The Tesla Model Y and the Tesla Model 3 contributed significantly to this growth. With these figures Tesla the best production value of the year and shows a strong recovery after a short dry spell.
Deliveries fall short of expectations
Despite the impressive increase in production, deliveries did not fully meet analysts' expectations. Tesla Deliveries in the third quarter 462,890 vehicles which represents an increase of 4.3 percent increase. However, Reuters' estimates were around 470,000 deliveriesso that Tesla fell just short of expectations. Experts attribute this to unexpected challenges in the market, particularly in China.
Challenges with the Cybertruck
Another point mentioned in the quarterly report is the ongoing problems with the cybertruck. Due to difficulties with the reversing camera Tesla is forced to use 27,000 vehicles recalled. Tesla emphasizes, however, that the problem was caused by a software update to ensure the safety and functionality of the vehicles.
Share price reacts with disappointment
The published figures led to a negative reaction from investors. The Tesla share price lost on the last day of trading 3.2 percent and stood at 217.95 euros. Compared with the end of the previous year, the share is therefore down by 5.4 percent. Investors' disappointment is mainly due to the missed delivery target and the unexpected challenges.
Outlook and recommendations
For the remainder of 2024 Tesla remains a challenge to further increase deliveries in order to achieve the annual target. With a planned production record in the fourth quarter and further optimizations in the production and Delivery has Tesla good chances of meeting the targets set. Investors and Tesla-fans should follow the next developments with interest.
Keywords: Tesla Quarterly report, Tesla production figures, Tesla deliveries, Tesla Cybertruck recall, Tesla share, Tesla Model Y, Tesla Model 3, Tesla accessories, Tesla Store, Shop4Tesla, Tesla News
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