Episode 466: Tesla’s Q2 Production and Delivery Numbers Are In
Jul 7, 2024
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Special guest cohost Larry Hryb joins to discuss Tesla's impressive Q2 production and delivery numbers. Topics include Cybertruck's Foundation Series update, Quicksilver paint availability, and upcoming Cyber cab and self-cleaning robotaxi technologies. Other discussions cover Tesla's online purchasing benefits, Patreon support, new silver color options, and listener feedback on joining the Robo taxi network. Additionally, insights on garage door repairs, hidden Tesla navigation tips, solar energy experiences, and podcast milestones are shared.
Tesla's Q2 delivery numbers show over 95% of deliveries were Model 3 and Model Y, with Cybertruck included in 'other models'.
Tesla aims to reach a production run rate of 250,000 Cybertrucks per year to balance out model distribution.
Tesla's Q2 2024 saw an increase in deliveries but a slight decrease in production compared to Q1, highlighting fluctuations in performance.
Tesla deployed a record 9.4 gigawatt hours of energy storage products in Q2, emphasizing commitment to sustainable energy solutions.
Deep dives
Highlights of Q2 2024 Tesla Production and Delivery Numbers
Tesla's second quarter production and delivery numbers for 2024 show that they produced around 411,000 vehicles and delivered about 444,000 vehicles. This marks an increase from the previous quarter in terms of deliveries despite a slight dip in production. The breakdown reveals that over 95% of deliveries were Model 3 and Model Y, with the remaining percentage accounting for other models like Model S, Model X, and Cybertruck.
Impact of Cybertruck Production on Vehicle Distribution
The Cybertruck's inclusion in the 'other models' category contributes to the high percentage of Model 3 and Y deliveries. As Tesla ramps up Cybertruck production to reach a targeted run rate of 250,000 units per year, the distribution between models is expected to level out over time.
Comparison to Previous Quarters and Year-over-Year Performance
Quarter over quarter, Tesla saw an increase in deliveries but a slight decrease in production from Q1 to Q2 in 2024. However, when comparing Q2 2024 to Q2 2023, there was a decrease in both production and deliveries, showing a 15% and 5% reduction, respectively, highlighting fluctuations in Tesla's year-over-year performance.
Continued Growth in Energy Storage Products
In addition to vehicle production and deliveries, Tesla made strides in energy storage products, deploying a record 9.4 gigawatt hours in Q2 2024. This achievement marks the highest quarterly deployment yet, showcasing Tesla's commitment to sustainable energy solutions beyond electric vehicles.
Tesla's Model 3 Production Impact on Stock and Tax Credit
The new Model 3 production ramp had a slight impact on Tesla's stock performance due to not reaching full capacity in Q2. The availability of a federal tax credit on the Model 3 was highlighted as a positive impact on future sales, providing a $7,500 incentive. Despite lower production numbers year over year, Tesla exceeded Wall Street's expectations, leading to a surge in stock price.
Self-Cleaning Robotaxi Concept
Tesla's development of a self-cleaning robotaxi, known as the 'cyber cab,' was discussed. The patent details a system for automatically sanitizing enclosed spaces like vehicle interiors shared by multiple individuals. The sanitation routine includes environmental detection, customized routines based on conditions, various sanitation methods utilizing HVAC systems, UV lighting, and steam generators for effective cleaning.
Pro Tip for Tesla Navigation Screen
A pro tip shared by a Tesla owner highlighted a feature to maximize the navigation screen's display. By swiping the line between the map and navigation sections, the road view can be expanded to take up the entire screen. This method enhances driver focus by removing distractions and providing a clearer view of the road during navigation.
Tesla posts its vehicle production and delivery numbers for the just-completed second quarter, and the news is very good. Plus: Tesla gives an update on Cybertruck’s Foundation Series program…sort of, Quicksilver paint is now available on Model 3’s built at Giga Shanghai, and more! Special guest cohost: Larry Hryb
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Go to xcelerateauto.com/xcare to find the extended warranty policy that's right for you and your Tesla, and don’t forget to use the discount code “Lightning” for $100 off your purchase.
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