Tesla Exceeds Q2 2024 Delivery Estimates, Deploys Record Energy Storage

Tesla has reported its delivery and production numbers for the second quarter of 2024, surpassing Wall Street’s expectations. The electric vehicle (EV) giant delivered 443,956 cars in Q2, exceeding the consensus estimate of 438,019. However, this figure decreased from the same quarter in 2023, when Tesla delivered over 466,000 vehicles.

Production for the quarter totaled 410,831 vehicles. In its report, Tesla stated, “In the second quarter, we produced approximately 411,000 vehicles and delivered approximately 444,000 vehicles. We deployed 9.4 GWh of energy storage products in Q2, the highest quarterly deployment yet.”

This marks a significant achievement for Tesla’s energy storage segment, with Q2’s deployment more than doubling the previous record of 4.053 MWh set in Q1.

Despite these strong numbers, reaching the ambitious target of 2 million vehicle deliveries for the year remains challenging. However, Tesla has already achieved a milestone by delivering over 6 million cars worldwide. Fantastic!

Investors are now looking forward to Tesla’s Q2 financial report, scheduled for release on July 23, 2024, after market close. The report will be followed by a Shareholder Deck and an Earnings Call at 4:30 p.m. Central (5:30 p.m. Eastern).

Tesla did well in Q2 2024 by delivering a lot of cars and setting a record for energy storage. Even though they delivered slightly fewer cars than last year, they’ve still managed to deliver over 6 million cars worldwide.