Tesla has once again demonstrated its dominance in the electric vehicle market with impressive delivery and production numbers for Q4 2024. The company’s performance highlights include producing 459,445 vehicles and delivering 495,570 units, along with deploying 11 GWh of energy storage solutions.
One remarkable aspect of Tesla’s Q4 performance is the higher number of cars delivered compared to those produced, showcasing the company’s efficiency in meeting customer demand. With over 7.2 million EVs delivered throughout its history, Tesla continues to set new records and push the boundaries of sustainable transportation.
The annual growth rate for 2024 was 49%, slightly lower than the 55% growth rate seen in 2023. Despite this, Tesla’s consistent growth trajectory over the past 11 years has been impressive, with deliveries increasing at a CAGR of 49%.
In addition to its strong vehicle production and delivery numbers, Tesla also achieved a record-high energy storage deployment of 11 GWh in Q4. This emphasizes the company’s commitment to advancing sustainable energy solutions and reducing reliance on fossil fuels.
For the full year 2024, Tesla produced 1,773,443 vehicles and delivered 1,789,226 units, further solidifying its position as a leader in the EV market. Energy storage deployments also saw significant growth, reaching 31.4 GWh, a remarkable 240% increase year-over-year.
The success of Tesla’s Model 3 and Model Y vehicles was evident in Q4, with 436,718 units produced and 471,930 units delivered. The high-end Model S and Model X models also contributed to the company’s performance, with 22,727 units produced and 23,640 units delivered in the same period.
Tesla credits its success to the dedication of its customers, employees, suppliers, shareholders, and supporters, all of whom played a crucial role in achieving these milestones. The company’s upcoming Q4 financial results release on January 29, 2025, will provide further insights into its performance and future growth plans.
Despite a slight dip in stock value following the Q4 delivery numbers announcement, Tesla remains focused on its 2025 growth story and autonomous vision. Analysts like Dan Ives see this as an opportunity for buyers to invest in Tesla’s long-term potential and innovative developments.
As Tesla looks ahead to 2025, the company has exciting plans in store, including the anticipated debut of its Model Y ‘Juniper’ refresh in China. With a strong foundation of success in 2024, Tesla is poised to continue leading the way in the EV industry and shaping the future of sustainable transportation.