Written by Cláudio Afonso | LinkedIn | X
Tesla reported its second-quarter earnings results on Tuesday, cautioning that this year’s volume growth rate “may be notably lower” compared to the growth rate achieved in 2023.
Last year, the electric vehicle manufacturer delivered 1,808,581 vehicles, while production reached 1,845,985 units. These figures represent a delivery growth of 38% year over year and a production growth of 35% year over year.
Tesla indicated that in 2024, their vehicle volume growth rate might be significantly lower than the growth rate achieved in 2023, as the company focuses on the launch of its next-generation vehicle and other products.
In the shareholder deck published on Tuesday, Tesla stated, “Our company is currently between two major growth waves: the first one began with the global expansion of the Model 3/Y platform, and we believe the next one will be initiated by advances in autonomy and the introduction of new products, including those built on our next-generation vehicle platform.”
The company added that despite a slower growth rate for volume, the energy storage division will outpace the Automotive business in deployments and revenue.
“In 2024, our vehicle volume growth rate may be notably lower than the growth rate achieved in 2023, as our teams work on the launch of the next-generation vehicle and other products. In 2024, the growth rates of energy storage deployments and revenue in our Energy Generation and Storage business should outpace the Automotive business.”
As of the time of writing, Tesla shares are down 3.40% in after-hours trading.
In the second quarter, the company produced approximately 411,000 vehicles and delivered around 444,000 vehicles while a total of 9.4 GWh of energy storage products were deployed during the quarter, setting a new record for quarterly deployment.
Written by Cláudio Afonso | LinkedIn | X
