Tesla has been facing a decline in global deliveries since 2020, but recent aggressive price cuts have helped boost sales, according to the latest data from the company. Despite the improvement, global deliveries are still down by 6.6% in 2024, marking the first sales decline in the opening half of a calendar year in Tesla’s history.
In the second quarter of 2024, Tesla delivered 443,956 new vehicles worldwide and produced 410,831. This represents a 4.8% decline compared to the same period in 2023, but it is an improvement from the 8.5% fall recorded in the first quarter of 2024. The company has now delivered over 6 million vehicles and is expected to surpass the 7 million mark by the end of the year.
The price cuts in China have been particularly effective, with the most affordable Tesla Model 3 sedan seeing an 11% decrease since the beginning of the year. Tesla has also been working through a backlog of stock, delivering 8% more vehicles than it produced in the second quarter, compared to delivering 12% less in the first quarter.
Despite the challenges, Tesla remains ahead of Chinese rival BYD in global electric-vehicle sales. In Australia, Tesla reported 4683 new-vehicle deliveries last month, down from 15,170 during the same period last year. More details on Australian electric vehicle sales for the second quarter of 2024 are expected to be released later today.
Alex Misoyannis, a car enthusiast and journalist, has been closely following Tesla’s sales performance and the electric vehicle market. He has been writing about cars since 2017 and continues to contribute valuable insights to the automotive industry.
Cars have always been a passion for Alex, from reading car magazines as a child to being surrounded by performance vehicles in his family. His expertise and experience in the automotive sector provide valuable perspectives on Tesla’s price cuts and global sales performance. Stay tuned for more updates on Tesla’s efforts to boost sales and navigate the evolving electric vehicle market.