Tesla reported record global deliveries of 495,570 vehicles in the fourth quarter of 2024, reflecting a 2.28% year-over-year increase. Despite the growth, the figure fell short of Wall Streetās forecast of 512,277, according to a Bloomberg survey. This marks a rare underperformance for the EV giant, as it also reported a 1.07% decline in full-year deliveries to 1,789,226 units, the first annual decrease in over a decade.
Tesla’s core models, the Model 3 sedan and Model Y crossover, accounted for the majority of Q4 deliveries with 471,930 units, slightly below market expectations of 484,575. The companyās higher-priced models, including the Model S, Model X, and the recently introduced Cybertruck, contributed 23,640 deliveries in the quarter. For the full year, Tesla delivered 1,704,093 units of the Model 3 and Model Y and 85,133 units of other models.
Tesla’s production numbers for the quarter stood at 459,445 vehicles, with 436,718 units of the Model 3 and Model Y and 22,727 units of other models. For the entire year, Tesla produced 1,773,443 vehicles, maintaining a close alignment with its delivery figures.
The EV market leader faced intensified competition from Chinese automaker BYD, which surpassed Tesla in the battery electric vehicle (BEV) segment for the second consecutive year in the fourth quarter. BYD reported 595,413 BEV sales in Q4, a 13.11% year-on-year increase. For the full year, BYD sold 1,764,992 BEVs, closing in on Teslaās global total.
Tesla continues to see robust demand in China, its second-largest market after the U.S. Data compiled by CnEVPost shows the automaker delivered 574,175 vehicles in China from January to November 2024, representing an 8.77% year-over-year increase. Full-year data for December is pending.
Tesla plans to announce its financial results for Q4 and full-year 2024 on January 29. A live webcast hosted by company management will follow the release, providing insight into Tesla’s financial performance and strategic outlook.
