Tesla reports 462,890 deliveries for Q3 with a strong quarter for energy

Tesla (NASDAQ: TSLA) reported it delivered 462,890 vehicles in the third quarter, coming in just over Wall Street consensus numbers of 462,000.

The automaker also had another strong quarter of energy deployments, stating it got out 6.9 GWh for the quarter.

Tesla also produced 469,796 vehicles in Q3.

In Q3, we:

– Produced approximately 470,000 vehicles

– Delivered approximately 463,000 vehicles

– Deployed 6.9 GWh of energy storage

→ https://t.co/e2LInLJv66

— Tesla (@Tesla) October 2, 2024

Tesla wrote:

“In the third quarter, we produced approximately 470,000 vehicles, delivered approximately 463,000 vehicles and deployed 6.9 GWh of energy storage products.”

This is a six percent increase in deliveries year over year, and a four percent bump from the 443,956 cars that made their way to customers in Q2.

Wall Street expected 462,000 deliveries for the quarter, and this was truly a three-month span that was crucial for Tesla to still make 2024 a success in terms of production and deliveries.

With the company stating earlier this year that annual growth would slow down as it focused on the next-generation platform, Tesla is still hoping to potentially reach 1.8 million deliveries this year.

Wedbush analyst Dan Ives detailed the 1.8 million unit bogey in a few notes over the past week:

“Looking to the rest of the year with the anticipated rebound in delivery performance to the rest of the year, we remain confident in Tesla’s ability to hit 1.8 million deliveries for FY24, which we will view as a solid feat given the extensive white-knuckle moments seen throughout the first half of the year.”

There are quite a few analyst consensus numbers floating around as well. 462,000 is what we have seen from various outlets, analysts, and fund managers over the past week. Other estimates are stating 461,000 and 463,897.

For Tesla’s Energy division, it reported its second-strongest quarter to date, as Q3 saw 6.9 GWh of deployments. This was just behind the 9.4 GWh Tesla reported in Q2, a company record.

Looking forward, Tesla will hold its Robotaxi unveiling event next week on October 10.

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