In a surprising turn of events, Tesla has managed to exceed market expectations by delivering almost 444,000 vehicles worldwide during the second quarter of 2024.
This figure not only exceeds analysts’ forecasts, but also marks a significant milestone in a period characterized by volatility in the electric vehicle market.
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Tesla announced on its website that it had delivered a total of 443,956 vehicles between April and June.
Of these, 422,405 were for the popular Model 3 and Model Y.
Although this figure represents a drop of 4.70% Compared to the same period last year, it is significantly higher than FactSet forecasts, which estimated deliveries of 436,000 units.
Despite the year-on-year decline, Tesla’s performance has been greeted with enthusiasm by analysts, who had expected less favorable results given the volatility in demand for electric vehicles globally.
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Production and breakdown of models
During the second quarter of 2024, Tesla also reported a total production of 410,831 vehicles, of which 386,576 were Model 3 and Model Y.
However, the company did not provide a detailed breakdown of the 21,551 vehicles remainingwhich leaves certain uncertainties about the distribution of its production.
Analysts at Wedbush have called Tesla’s deliveries “fireworks,” noting that the company has achieved a “great comeback” when the market was anticipating a lower return. According to Wedbush, this result suggests that “The worst is over” for Tesla, thanks in part to a “mini-rebound” in the Chinese market and the stabilization of its vehicle prices.
A crucial event on the horizon is the unveiling of Tesla’s robotaxi on August 8than autonomous vehicle that could revolutionize driverless driving.
This launch is seen as a new chapter in Tesla’s history, with the potential to consolidate its leadership in the autonomous driving sector.
Divided opinions
Despite the optimism of some analysts, not everyone shares the same enthusiasm. Jessica Caldwell, from Edmundsnoted that the year-over-year drop in deliveries is not surprising given that Tesla has relied on price cuts and increased marketing incentives to stimulate demand.
Caldwell warns that these sales tactics could have long-term adverse effects, such as depreciation in vehicle values and an expectation of lower prices among customers.
Tesla faces a complex outlook. While it has managed to exceed expectations in a difficult quarter, it must continue to innovate and adapt to market dynamics.
Price-cutting and incentive strategies, while effective in the short term, pose significant challenges to brand value perception and customer satisfaction.
The next robotaxi launch could be a decisive factor in Tesla’s strategy, positioning it at the forefront of autonomous vehicle technology.
In addition, price stabilization and improved demand for electric vehicles in key markets such as China represent significant opportunities for future growth.
The second quarter of 2024 has been a period of contrasts for Tesla. Despite a slight drop in year-over-year deliveries, the company has exceeded market expectations and demonstrated its ability to navigate a challenging environment.
With the upcoming launch of the robotaxi and a strategy focused on innovation and price stabilization, Tesla is well positioned to continue its upward trajectory in the global electric vehicle market.