Tesla has released its production and delivery figures for the fourth quarter of 2024, which again show impressive growth but also reveal some challenges. In this post, we analyze the most important metrics, their impact on the share price and the company's future prospects.
Tesla quarterly figures: production and delivery records
In the fourth quarter of 2024, Tesla set new records by producing 459,000 vehicles and delivering over 495,000 vehicles . These figures confirm the continued increase in demand for Tesla's vehicles, despite growing competition in the field of electric mobility.
For the full year 2024, Tesla produced a total of 1,773,443 vehicles and delivered 1,789,226 vehicles , maintaining its position as the market leader in electric vehicles.
Tesla misses analyst forecasts
Despite these impressive numbers, deliveries for the fourth quarter fell short of analysts' expectations of about 512,250 vehicles delivered . This miss led to a 6.1% decline in Tesla's share price, dropping to $379.28 .
decline in annual Tesla deliveries
For the first time in years, Tesla saw a decline in annual deliveries. While a total of 1,808,581 vehicles were delivered in 2023, the number dropped slightly to 1,789,226 vehicles in 2024. This decline could be due to macroeconomic challenges or internal factors such as production bottlenecks and logistics issues.
record for energy storage products
In addition to vehicle production and delivery, Tesla also set new records in the field of energy storage products. In the fourth quarter of 2024, 11.0 GWh of energy storage solutions were deployed, while full-year deployment was 31.4 GWh . This business area is becoming increasingly important and is seen as a key growth factor for Tesla.
Future Tesla Growth Opportunities
Despite the challenges, Tesla's outlook remains promising. The company plans to launch a lower-cost model and a self-driving robo-taxi service in 2025. Both projects could significantly boost growth and further strengthen Tesla's leadership in electric mobility and autonomous driving technologies.
Analysts reacted differently to the latest figures. While some lowered their price targets, Canaccord Genuity raised its price target to $404 , citing potential in artificial intelligence, energy storage and robotics.
Financial Results and Webcast
Tesla plans to release its full financial results for the fourth quarter of 2024 on January 29, 2025. A live webcast with a question-and-answer session is expected to provide additional insights into the company's business performance and strategic plans.
Conclusion
With its Q4 2024 quarterly figures, Tesla once again shows its strength, especially in the areas of production and energy storage. However, the missed expectations for delivery figures and the first-time decline in annual deliveries point to challenges that the company will have to overcome in the future. However, with innovative plans and a strong focus on new technologies, Tesla remains a pioneer in the industry and a driving force for the electric mobility revolution.
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