Tesla produced 410,831 and delivered 443,956 EVs in Q2, a decrease in production but an increase in deliveries. Distribution numbers were 4.8% lower than in 2023, while energy storage product deployment in Q2 was the highest at 9.4 GWh.
The decline in Tesla's first quarter of 2024 sales was attributed to production challenges like the updated Model 3 ramp-up, factory shutdowns due to external factors, such as the Red Sea conflict shipping diversions. 'Volcano Group' caused a factory shutdown in Berlin by cutting power, affecting Tesla's operations.
The increase in the price of every Model Y in the US by $1,000 on April 1 might impact Q2 financial results, to be revealed on July 23. Elon Musk indicated the arrival of a lower-cost EV in 2025 may impact sales growth this year.
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