Tesla sales jump in July-September, yet to disclose Cybertruck figures

SAN FRANCISCO: Elon Musk-run Tesla on Wednesday reported the production of approximately 469,796 vehicles in its third quarter (July-September period), showing a jump of 9.1 per cent (year-on-year).

The EV company said it delivered about 462,890 vehicles to customers during Q3, a 6.3 per cent jump from the same quarter last year, and deployed 6.9 GWh of energy storage products.

Tesla's production was up 14.4 per cent as compared to the second quarter of 2024, while delivery increased 5.8 per cent.

Tesla, however, did not disclose Cybertruck sales numbers. Most of the production and delivery was about Model 3 and Y vehicles — 443,668 produced and 439,975 delivered in the third quarter.

The EV company will report its full third quarter earnings on October 23, and is likely to reveal its long-awaited “robotaxi” on October 10.

Though timing of robotaxi deployment depends on technological advancement and regulatory approval, “we are working vigorously on this opportunity given the outsized potential value,” said Musk.

In its second quarter (Q2), the Musk-run company had reported $1.5 billion in profit, down 45 per cent from the same period in 2023. Total revenue was up 2 per cent (year-on-year) at $25.5 billion, but automotive revenues was down 7 per cent to $19.9 billion.

The company said it was looking at a possibility of selling fewer EVs in 2024 than 2023. It said that global EV penetration returned to growth in Q2 and is taking share from ICE vehicles.

Earlier this year, Tesla cautioned that the growth of its vehicle sales “may be notably lower” in 2024 as it prepares to launch a new vehicle platform for cheaper EVs.

In 2023, the Tesla Fremont factory in the US produced nearly 560,000 vehicles. At Gigafactory Texas, it began production of the Cybertruck and delivered the first units to customers.