Tesla Share Climbs: Tesla Production Declines in The Second Quarter of 2024 - Rising Deliveries Exceed Expectations

Austin, USA - The US electric vehicle manufacturer Tesla has published its production and delivery figures for the second quarter of 2024 (Q2 2024).

Tesla produced a total of 410,831 vehicles in Q2 2024. This means that production is 5.2 per cent lower than in the previous quarter Q1 24 (433,371 vehicles). In addition, the current Q2 figure is the lowest production result since the third quarter of 2022 (Q3 22: 365,923 vehicles).

In contrast, Tesla's deliveries increased significantly in the second quarter. At 443,956 vehicles, deliveries were 14.8 per cent higher than in the previous quarter. Tesla also exceeded analysts' expectations with this result. On average, they had expected around 438,000 vehicles to be delivered. The rising demand is supported by price reductions and purchase incentives.

Tesla shares topped the RENIXX yesterday with a gain of 9.8 percent to €214.60 (closing price, 2 July 2024, Stuttgart Stock Exchange). Compared to the price at the turn of the year, the share is currently down 6.8 percent.

Tesla will publish its financial results for the second quarter of 2024 after the close of trading on Tuesday, 23 July 2024.

Source: IWR Online, 03 Jul 2024