Tesla shares fall after deliveries drop 8.5% from a year ago
Tesla on Tuesday published its first-quarter vehicle production and deliveries report for 2024 that showed deliveries fell 8.5% from the year-ago quarter and about 20% from the fourth quarter. Here are the key numbers:
Tesla doesn't break out sales by model but reported that it produced 412,376 Model 3/Y cars and delivered 369,783. It produced 20,995 of its other models and delivered 17,027.
In the same period last year, the electric automaker reported 422,875 deliveries and production of 440,808 vehicles. In the fourth quarter of 2023, Tesla reported 484,507 deliveries and production of 494,989 vehicles.
Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company's shareholder communications.
According to a mean of 11 estimates compiled by FactSet, analysts were expecting deliveries of around 457,000 for the period ending March 31. Estimates ranged from a high of 511,000 deliveries to a low of 414,000 for the first quarter, with estimates updated in March ranging from 414,000 to 469,000 deliveries.
