Tesla sees modest growth in Q3

October 2, 2024:

This morning, Tesla posted its sales and production numbers for the third quarter of 2024. While not spectacular when compared to Q3 2023, the numbers do show modest growth, unlike the rather disappointing Q2 2024. However, the production and sales numbers were still below many analysts’ estimates.

Tesla built 469,796 vehicles across the months of July, August, and September, a 9 percent increase on Q3 2023. Of those, 443,668 were Models 3 and Y, a 6 percent growth from last year. Thanks to the Cybertruck, the previously moribund “other” category that also includes the slow-selling and outdated Models S and X has grown 91 percent compared to Q3 2023.

Tesla sold fewer cars than it built in Q3, though. Total sales for the quarter amounted to 462,890—6 percent up compared to Q3 2023. That’s better than some analyst estimates, but UBS and Barclays were both estimating 470,000 cars sold during the three months.

The Model 3 and Model Y sold 439,975 units for the quarter, up 4 percent versus Q3 2023. Other sales grew 43 percent to 22,915, suggesting that quite a few Cybertrucks may be in inventory right now.

For a company with a share price predicated on eternal growth, a return to positive year-over-year changes will be somewhat welcome.

Source link

tags

Abkhazia Afghanistan Africa Albania Algeria Andorra Angola Antigua and Barbuda Argentina Armenia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bolivia Bosnia and Herzegovina Botswana Brazil Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Central African Republic Chad Chile China Colombia Comoros Costa Rica Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic East Timor Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Fiji Finland France French Polynesia Gabon Gambia Georgia Germany Ghana Greece Grenada Guam Guatemala Guinea Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Israel Italy Jamaica Japan Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau Madagascar Malawi Malaysia Maldives Mali Malta Mauritania Mauritius Mexico Moldova Monaco Mongolia Montenegro Morocco Mozambique Myanmar Namibia Nepal Netherlands New Zealand Nicaragua Niger Nigeria North Korea North Macedonia Northern Cyprus Norway Oman Pakistan Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Republic of the Congo Romania Russia Rwanda Saint Lucia Samoa San Marino Saudi Arabia Senegal Serbia Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Korea South Sudan Spain Sri Lanka Sudan Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Uganda UK Ukraine United Arab Emirates Uruguay USA Uzbekistan Vatican City Venezuela Vietnam Western Sahara Yemen Zambia Zimbabwe