The electric car pioneer Tesla has published its delivery figures for the second quarter of 2024 and exceeded analysts' expectations. A total of 443,956 vehicles were delivered, which corresponds to an increase of 14.77% compared to the previous quarter. The majority of deliveries were accounted for by the models Model 3 and Model Y with a total of 422,405 vehicles. Despite this success, the number of vehicles produced in the same period fell by 5.2% to 410,831 vehicles compared to the previous quarter.
Declining production and challenges in China
Production at Tesla recorded a significant decline in the second quarter of 2024. Compared to the first quarter, 5.2% fewer vehicles were produced and production fell by 14.36% compared to the previous year. A major factor in this decline was the limited storage space, as Tesla had continuously produced more vehicles than it delivered in the last nine quarters.
The situation in China is particularly challenging. Deliveries from the gigafactory in Shanghai fell by 24.2 percent in June compared to the previous year. The downward trend continued for the fourth month in a row, which is due to the intense price war with Chinese rivals such as Xpeng, Li Auto and BYD .
Share reacts positively to the figures
The Tesla-share reacted positively to the surprisingly good delivery figures and rose by 10.2 percent to 231.26 US dollars, its highest level since January. Analysts had previously expected a sharper decline in deliveries. The positive market reaction shows investors' confidence in Tesla's long-term strategy, despite the current challenges and the necessary adjustments in production.
Outlook and strategic considerations
Tesla Tesla faces the challenge of adapting its strategy to maintain sales in an increasingly competitive market. The high discounts that Tesla granted to sell the vehicles are causing resentment in the industry and forcing other manufacturers to take similar measures.
Despite the challenges Tesla continues to show innovation and adaptability. One bright spot is the increasing sale of rechargeable batteries for stationary use, which set a new record in the second quarter with a total capacity of 9.4 GWh .
The final financial results for the second quarter of 2024 will be published on July 23. Investors and market observers are eager to see how current developments will impact Tesla's sales and long-term market strategy .
With these developments Tesla a key player in the global electric vehicle market that continues to respond to market conditions with innovations and strategic adjustments.
