Episode 492: Analyzing Tesla’s 2024 Production and Delivery Numbers
Jan 5, 2025
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Tesla's Q4 production and delivery numbers reveal a record-breaking performance, though they didn’t hit their annual goals. The Cybertruck qualifies for a tax credit, while the new Model 3 snagged a European Car of the Year award. A Cybertruck explosion raises safety questions, adding a twist to the unveiling of exciting new features and technological advancements. The community actively engages with supercharging location votes, and there’s a heartfelt recount of a travel mishap involving tire troubles.
Tesla's impressive Q4 production of 459,000 vehicles showcased their operational capabilities, even though they slightly missed their annual target of 1.8 million deliveries.
The Cybertruck's recent qualification for a $7,500 tax credit significantly enhances its market appeal and is expected to boost demand amidst competitive pricing strategies.
The updated Model 3 receiving the Car of the Year award underlines its strong market performance and solidifies its status as a leading electric vehicle option.
Deep dives
Q4 Production and Delivery Results
Tesla shared its production and delivery figures for the fourth quarter of 2024, reporting the production of approximately 459,000 vehicles and delivering over 495,000 vehicles. Although this marked their best quarter ever, Tesla did not meet the target of 506,344 deliveries needed to achieve a goal of 1.8 million for the year. This slight shortfall led to a drop in the stock price initially, although it later recovered and closed higher by the end of the week. Despite missing the overall annual target, the year-end totals still reflected a significant achievement for Tesla.
Cybertruck Tax Credit Qualification
The Cybertruck has qualified for a $7,500 federal tax credit, significantly influencing its purchase appeal. This applies to the base model, priced at approximately $79,990, allowing buyers to acquire the vehicle for about $72,500 after tax incentives. The integration of this tax credit into the pricing structure is likely to spike demand for the Cybertruck models, especially with the emergence of a new single motor variant expected this quarter. This anticipated increase in Cybertruck variability might lead to even more competitive pricing strategies in the electric truck market.
Tragic Incident Involving a Cybertruck
A devastating explosion involving a rented Cybertruck occurred on New Year's Day in Las Vegas, resulting in the driver's death and injuries to seven others. The truck reportedly exploded due to fireworks and camping fuel stored in its bed, leading investigators to explore potential ties to a terrorist act, albeit confirming no broader public danger. Video footage showed a significant fireball emanating from the vehicle, narrowly avoiding causing more extensive damage to the surrounding area. Interestingly, the explosion’s impact was mitigated by the Cybertruck's robust exterior, sparking discussions about the vehicle's safety features amid this tragic incident.
New Model 3 Award Recognition
The newly updated Model 3, referred to as the 3Fresh, was honored with the Car of the Year award from a leading Swedish motoring magazine. The publication praised the updated model for its refinement and overall balance, outshining competitors such as the BYD Seal. It achieved a remarkable score, showcasing its strong performance in the market, where it stands as a benchmark for practicality and value. This accolade reinforces the Model 3's reputation as a leading choice in the electric vehicle segment.
Community Involvement in Supercharger Expansion
Tesla has announced the winning locations for its quarterly community vote on new supercharging stations, including spots in Australia, South Korea, Japan, and several locations across the United States. The community-driven initiative allows Tesla owners to voice their needs for additional charging infrastructure, enhancing the company's engagement with its customer base. This program exemplifies Tesla's commitment to understanding and responding to the requests of its community while accelerating the expansion of its supercharging network. With this continued growth, Tesla aims to meet the charging needs of its expanding fleet more effectively.
Tesla releases its production and delivery totals for Q4 – and thus we know the numbers for all of 2024. Did they hit their goal? Plus: Cybertruck now qualifies for the $7500 point-of-sale tax credit, the new Model 3 wins a big award in Europe, and more!
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