Tesla Share Under Pressure: Tesla Misses 2024 Sales Target

Austin, USA - The US electric vehicle manufacturer Tesla has published its production and delivery figures for the fourth quarter of 2024 and the full year 2024.

In Q4 2024, Tesla produced a total of 459,445 vehicles, a decrease of approximately 2 percent compared to the previous quarter (Q3 24: 469,796 vehicles). Total production for 2024 will reach around 1.77 million vehicles, a decrease of around 4 percent compared to the previous year (2023: approx. 1.85 million vehicles).

Although Tesla was able to increase deliveries to 495,570 vehicles in the fourth quarter of 2024, which corresponds to an increase of around 7% compared to the previous quarter, it fell short of analysts' expectations. These averaged around 512,300 vehicles delivered. In addition, the target set by CEO Elon Musk of increasing deliveries in 2024 compared to the previous year was not achieved. With a total of around 1.79 million vehicles, deliveries are around 2 percent below the previous year's figure (2023: approx. 1.81 million vehicles).

Tesla pointed out that the published production and delivery figures as well as the energy storage data should only be understood as partial aspects of the company's financial performance and should not be used as the sole indicators for the quarterly financial results. Nevertheless, the markets reacted negatively to the figures, which led to a significant fall in the share price. Yesterday (02.01.2025), the share price fell by 8.8 percent to 370.15 euros (closing price, Stuttgart Stock Exchange). This made Tesla the weakest stock in the regenerative share index RENIXX World.

Tesla will publish its financial results for the fourth quarter of 2024 after the close of trading on Wednesday, January 29, 2025.

Source: IWR Online, 03 Jan 2025