Tesla has achieved a significant milestone, producing six million vehicles since launching its first model, the Roadster, in 2008. This accomplishment marks a pivotal moment for the electric vehicle manufacturer, solidifying its position as a leader in the industry. However, despite this success, Tesla is encountering several challenges in early 2024, with some suggesting that the company may be intentionally limiting its production capacity.
Surpassing the production of any other automaker, including the new challenger BYD from China, which recently celebrated the production of its seven-millionth plug-in hybrid, Tesla’s achievement was announced recently. The milestone was accompanied by expressions of gratitude to its owners and teams worldwide.
Produced our 6 millionth car!
Thank you to our owners & teams around the world for your support & hard work—it truly matters.
🌎🌍🌏❤️ pic.twitter.com/F4IeQtK0PS
— Tesla (@Tesla) March 29, 2024
The six-millionth vehicle, fittingly, is believed to be a Model Y, Tesla’s best-selling car globally. Last year alone, Tesla sold 1.23 million Model Y vehicles. While it was anticipated that Tesla would reach this milestone early in 2024, the fact that it occurred in late March came as a bit of a surprise.
Looking ahead, Tesla’s Cybertruck production is expected to ramp up throughout 2024, and the company’s new Model 3 could further boost sales and demand. However, the timing of the six-million-vehicle announcement suggests that Tesla’s production may not be operating at full capacity.
Tesla produced its four-millionth car in March 2023 and its five-millionth car in September 2023, indicating consistent production levels, despite the company’s claims of having expanded its capacity since March 2023. This strategic approach aligns with Tesla’s goal of maximizing profit and demand based on market trends.
In the midst of its worst quarter since 2022, Tesla’s production strategy appears to be influenced by factors such as increased competition from BYD, plant shutdowns, and slower overall sales. Despite falling short of its targets, Tesla reported an 8 percent increase in overall sales during the first quarter of 2024.
