Tesla’s production and delivery numbers for the first quarter (Q1) of 2024 fell short of expectations. While the company produced 433,371 vehicles, it delivered only 386,810 to customers, marking a significant decline compared to the record-breaking Q4 of 2023.
Tesla attributed the slowdown to several challenges, including disruptions in shipping routes due to ongoing conflicts in the Red Sea and production delays caused by a fire at its Berlin Gigafactory.
As usual, the popular Model 3 and Model Y dominated deliveries, accounting for over 95% of the total. The remaining deliveries were spread across the Model S and Model X, though Tesla did not provide specific figures for these models.
Overall, deliveries dropped by approximately 20%, and production declined by 12.5% compared to Q4 2023. Investors will be closely watching when Tesla releases its financial results on July 23rd to assess the economic impact of this slowdown.
