Tesla sees EV deliveries drop year-over-year for the first time since 2020

revealed the number of vehicles it delivered in the first three months of 2024 and the figures were down significantly from the previous quarter and . The company 386,810 EVs during this period.

That’s down 20 percent from the 484,507 vehicles Tesla delivered in Q4 2023 and 8 percent down year-over-year. This was Tesla’s first YoY decline since 2020, it shows. These figures were also short of estimates – on average, analysts expected Tesla to deliver 449,080 EVs.

There are some mitigating factors at play, such as documents. Tesla had to close its factory in Germany for almost a week due to a fire. It also halted most production at its Berlin facility for two days due to ship disruptions caused by Houthi attacks on international shipping in the Red Sea. Tesla also reported an early increase in production as another reason for the drop in shipping.

Tesla says it produced 412,376 Model 3 and Y vehicles in the first three months of 2024 and 20,995 other models for a total of 433,371. Of the shipments, 369,783 were Model 3s and Model Ys. The company did not specify the number of it built and released.

As is often the case, Tesla tested a number of marketing strategies at the end of the quarter, such as offering a free trial of Full Self-Driving (which, despite its name, is not a self-driving system). The company also told prospective buyers to get one of its EVs before prices go up on April 1. Sure enough, on Monday, the company. of each Model Y is $1,000 in the US.

Earlier this year, Tesla CEO Elon Musk warned that the company was in the middle of “two big waves” – the size of the Model 3 and Y, and the expected low-cost EV. until the end of 2025. As such, he warned investors that Tesla could see “growth” in sales this year.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *