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From the article: Tesla has just released its Q3 2024 production and delivery report. In Q3 2024, the automaker delivered a total of 462,890 vehicles. That beats predictions from RBC analyst Tom Narayan, who stated that the firm’s prediction was that Tesla would sell 460,000 units. Tesla's delivery figure firmly beats the Wall Street consensus that Tesla would deliver 449,232 vehicles in the third quarter. However, Tesla has fallen short of the short of the 585,000 deliveries it needed in Q3 2024 to remain on track for its goal of 2 million vehicles delivered this year. The breakdown of vehicles delivered in Q3 2024 is 439,975 for the Model 3 and Model Y and 22,915 for the Model S, Model X and Cybertruck. On the production side, Tesla made 443,668 Model 3s and Model Ys combined. The Tesla Model S, Model X and Cybertruck—listed as "Other Models" accounted for 26,128 vehicles produced. Total production for Tesla in Q3 2024 stood at 469,796, which is just a bit below deliveries. Tesla stated, "In the third quarter, we produced approximately 470,000 vehicles, delivered approximately 463,000 vehicles and deployed 6.9 GWh of energy storage products."
>However, Tesla has fallen short of the short of the 585,000 deliveries it needed in Q3 2024 to remain on track for its goal of 2 million vehicles delivered this year. Let’s hope there are some nice Q4 deals because I’d like to buy my M3LR before the end of the year.
That's a bad print unfortunately
I think one could more accurately describe “met expectations.” 475-480k would’ve been a beat. If they broke out Cybertruck vs S/X, I think we’d be crying at how few S/X they sold. It’s crazy that they’ve effectively cannibalized their own product line with 3/Y that it is very difficult to argue the value is there in the current S/X lineup comparatively. I love my 2017 S but see very little reason to upgrade to a new one, I’d find far more value in 3 today.
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The analysts were wrong again
It also was kind of the stated goal from the beginning. Introduce high cost cars to bring cash in, to create scale, to introduce lower cost models for the masses; so in that way it’s a giant success.
Same. I also own 2017 s, and although the interior is outdated, for a regular person the exterior is the same as 2024. Of course it lacks some bells and whistles, but in the nutshell has the same tech as the newer one (fsd, sentry). I see no point in paying extra for a new one. New model 3 is a great value proposition, but it is not a replacement even for the older S. Good thing is that other manufacturers started releasing decent EVs.
Isn't cybertruck at around 800-1000 per week. So that would suggest 10-12k for Q3. So same as Model S and X combined and those are sold basically worldwide.
I think that's the intent though, they were never interested in pushing the S/X to the masses - the 3 and Y are much more effective products at driving EV adoption. Other companies can go try and capture the luxury market. There's still space for ultra capable world leading super sedans / people carriers, but only really in a over zealous marketing type way. We got a second hand Model X - the falcon wing doors make everyone stand back and take notice - we just love it because it's electric, it's got great range, and has the nice Tesla nav features that we've grown accustomed to on the Model 3. I'm not expecting there to be "another Model X" any time soon, even if we were to try and get a 2024 edition second hand in 2028, it's just as likely we'll run the 2020 Model X into the ground in 10-15 years time.
If there’s a crazy deal I’ll Dump my wife’s Mercedes and get her a Tesla
The cars in the S&X price range are getting better specs as well. Why don’t they offer 500 miles range yet?
>I think we’d be crying at how few S/X they sold. It’s crazy that they’ve effectively cannibalized their own product line S&X need to be 500+ range cars. They just don't have the X-factor anymore to justify buying one over a Y or 3.
More super chargers plz
2023 numbers for those curious AUSTIN, Texas, October 2, 2023 – In the third quarter, we produced over 430,000 vehicles and delivered over 435,000 vehicles. A sequential decline in volumes was caused by planned downtimes for factory upgrades, as discussed on the most recent earnings call. Our 2023 volume target of around 1.8 million vehicles remains unchanged.
I upgraded from a 3 to an X in ‘22, and I am glad I did. However, it was due to some very specific needs. Road trips with kids and a big dog got very crowded in the 3, so I wanted a 3rd row. I also spend a lot of time trail running. Being able to raise the suspension for a little extra ground clearance at dicey trailheads is an important feature to me. That combination made an X really appealing to me. I get it though…for most people that combination doesn’t matter.
Thank you. 463k / 435k =1.0644 or 6% growth.
Probably very difficult to do with minimal amount of engineering and testing.
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Would buy Y. Wife said “We need 6 seater”. Bought X. Simple logic :)
In that vein the Lucid Air and Gravity are the real successors to the S/X now.
I thought the Ravens were introduced mid 2019.
Stock is down over $10 today.
But still significantly higher than just a couple of weeks ago.
i'm literally just waiting for them to drop some incentives so i can buy a plaid s.
The best car is no car. They'd be better of cancelling the S/X and focusing engineering resources on the 3/Y. Especially with the Model 3 highland adding ventilated seats and a backseat screen, they seem to be positioning themselves to do just that.
Agree with you. Would like to see them achieve Lucid Air Grand Touring range and also even faster charging.
The competition is just better in that segment tbh. I’d take a LUCID over an S or a Rivian over a Cybertruck.
Rivian is the real cybertruck
i mean they are discounted 20-30k vs what they should be priced (hence losing money) so ya..
With 4 foot bed?
Rivian R1S is the new X more like
They have been using basically the same battery in the model s since forever. Density increases from more modern cells alone should increase range by 10-20%.
Design tweaks are not planned obsolescence. Letting products get stale and become irrelevant isn’t a good thing. They aren’t good flagships if they aren’t introducing any features that trickle down to the rest of the product line, the flag ship is supposed to be the pinnacle not the after thought.
And this came out https://finance.yahoo.com/news/tesla-stock-drops-5-after-q3-deliveries-fall-short-of-estimates-141212969.html
I think S/X should move up market with a full redesign. Take on Bentley / Rolls. Steal the Maybach 6 design with a single piece convertible roof that folds into the trunk on the S. The X can steal the G wagon / old Land Rover Defender design. Actual 1,000 mile range on both. Starting at $350k
You also don't need a new one because your 7 year old 2017 model is probably still awesome. Seven year old Mercedes and BMWs require thousands a year in maintenance by now.
Damn, the stock plummeted all the way to where it was last monday. How will it ever recover?
Seems pretty accurate to me. How close would they have to be to actual figures to be considered correct? >That 462,890 figure beats predictions from RBC analyst Tom Narayan, who stated that the firm’s prediction was that Tesla would sell 460,000 units. Tesla's deliveries for the quarter fell just shy of the approximately 463,900 that Wall Street analysts expected, according to data cited by Bloomberg.
I have never had an old bmw/mercedes. Only Toyotas and Hondas 🙂
C'mon transferrable FUSC...
Is that 800-1000 production capacity or their actual sales? Because those are two very different things *Edited for clarity*
It was stated they are producing that many. Maybe they have turned that down because demand for the founders edition isn't high enough but at least that is what they should be able to build.
ah gotcha. Yeah I'm wondering what the actual uptake of the founder series is. It's so expensive that I'd imagine that most are waiting for more affordable options
Haven’t Pi driven the rivian? I like how it looks but how it drives is just whatever. Didnt take it off road and sure the quad motor is fast but what’s so special about it? Their auto drive or whatever is in another world behind what Tesla has right now with FSD as well.
yea… WTH did the deals get worst.?! i already knew a week in advance they were going to fall short. shouldn’t Elon be pushing hard till the last hour.?!! i’m only saying this cause we bought an M3 for my wife… and now i can’t buy my own….. well - i can - but i’m hoping for a better deal
i spent $12k to pick a bunch up today @149…. waiting for 10.10 to unload then i think there’s another dip that can be bought
It is somehow still surprising to me how little Model S and X continue to sell. 25k of other vehicles (this does include CT but that’s gotta be even more negligible since it just came out), vs almost 500k of 3/Y. So it’s right around 5% of 3/Y. I’d love to buy an X but being the least sold Tesla, it does give me pause.
I traded in a seven year old VW that required thousands in maintenance every year. Can’t imagine what a BMW or Mercedes would be.
Pretty good results
Well, my 2023 model S gets 405 miles of range, it is much quieter inside, the ride is smoother, the acceleration is devilish, and the electronics and sound are noticeably better than the 2017 Model S I traded in.
Yes, I think people forget that this was the plan all along. Still, I would love to see the MX/MS lines refreshed to better compete with manufacturers going for the high end luxury market. That said, I believe it's difficult for manufacturers to profit off the high end luxury market for EV's, which may be holding Tesla back from investing more in those lines if they're not seeing the return.
What we don't see is the profit gain/loss for the competition here. It's incredibly expensive to produce EV's, and if/until they hit scale, other manufacturers are very likely losing money. Consumers may like the massive discounts and suspiciously affordable lease deals, but I see this as a sign that the company is hurting. I would not feel confident buying a LUCID, as they've not shown that they can survive as a company. Rivian, I believe, maybe doing better than LUCID, but they've yet to turn a profit. Buying a vehicle from an unprofitable company seems like a huge risk to me, which is why I waited so long to buy my Tesla (turned profitable in 2020). Longevity of the company is important.
This is one of the reasons I went with a M3 (Performance) Highland instead of a MSLR this year. I'm fortunate to be in a circle of people who can afford MS/MX prices, but there's just not a lot of reasons to go with the more expensive models. Especially after the Highland (and soon Juniper) refresh, it's incredibly difficult to justify. As was discussed by another in this thread, this was always Tesla's plan: start with expensive, high end models for early adopters with $$$ and then introduce lower cost models for the masses. However, I would like to see the MS/MX grow to be the Uber-luxury line for those who can afford them, but I don't know if Tesla would see the return on investment on building/refreshing those lines to compete with the high end luxury models from, say, LUCID (when LUCID is still far from turning a profit).
In investment terms, people often say the analyst were wrong if the company beats expectations, even by a small amount. It's not wrong to say that the analyst were close, or very nearly accurate like in this case, but it's more common to say that analyst were wrong. This is an industry thing and not just a weird Tesla-ism. It's used to show disdain for analysts more than anything I think :) Company exceeds expectations = analyst were wrong Company underperforms expectations = company failed
Missed expectation by 0.2%. Oh for f's sake, that's a rounding error.
Because outside of bragging about specs, it's just really not needed for the majority of drivers. It also comes with downsides adding more weight to the vehicle - more weight means less efficiency and faster tire wear, and plenty of other things. It's all a balancing act.
.2% wow, tesla is going to DIE! /s That's like saying, We were expecting to sell around $500 of product today, but we sold $499 worth of product, wow completely missed our estimate, we should close down shop.
when roadster?
i need the flexibility to put my kids in both my car and my wifes car and i'm too poor for a 3rd car.
They honestly need to release a completely redesigned S and X that look different. IMO the X should also become a larger true three row SUV more like an Escalade or at least an R1S to avoid overlapping too much with the Y. The Model S is a nice vehicle but it just still looks way too similar to the original from 12 years ago even if most of the parts have been changed repeatedly. A major update that ups the driving dynamics to Taycan level would be cool, though sedans are mediocre sellers in today’s world so I get why Tesla doesn’t wanna invest money in it. But there’s 100% money to be made by making a new larger Model X.
Exactly! Close shop, sell off all the hardware, fire sale on the remaining inventory. Zero chance of recovering.
Lucid Air effciency is better though and around the same weight.
Or a Rivian. Rather have a Rivian R1S than an X honestly. It’s a real SUV to me whereas an X is just a luxury minivan EV. I want an off-roadable EV that looks like a normal SUV but not the CT.
They have some very cheap lease rates right now. I wonder what percentage of new car deliveries are leased.
I’m a near daily runner who runs new paths in one of the densest states and not a day goes by where I don’t see a new Tesla with the paper plate on the road. it’s kind of amazing If they sell 50 teslas a day in this state, then there’s 1500 new <1 month old cars on the road at all times
I was considering but two things have gotten in the way, Elon seems to have moved on to other things that I do not support - and the other NA car manufacturers are coming out with the same or better products - Their ride is much better that Tesla which is rough, fit and finish is better. Sorry Elon, you've lost me :(
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