Tesla Releases Q3 2024 Production & Delivery Numbers

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This morning, Tesla shared its production and delivery figures for the third quarter of 2024, showing continued growth in vehicle production and energy storage deployments.

For Q3, Tesla produced a total of 469,796 vehicles, with 462,890 vehicles delivered to customers. The Model 3 and Model Y accounted for 443,668 vehicles produced and 439,975 delivered. Tesla's other models — which Tesla doesn’t break out, include the Model S, Model X, Cybertruck, and Semi, which made up the remaining 26,128 vehicles produced and 22,915 delivered.

The energy storage business also saw strong growth, with 6.9 GWh of storage products deployed during the quarter. This is down from 9.4 GWh last quarter, which was a quarterly record for Tesla.

Q3 2024 Production & Deliveries Breakdown

The delivery numbers met Wall Street expectations, which forecasted about 463,000 units. Tesla’s numbers mark a 6% increase year-over-year and a 4% growth over the previous quarter.

Tesla’s Q3 Financial Results Announcement

Tesla plans to release its complete financial results for the third quarter after market close on Wednesday, October 23, 2024. Following the results, Tesla management will hold a live Q&A webcast to discuss the company’s financial performance and outlook.

• When: Wednesday, October 23, 2024

• Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time

• Webcast: Tesla Q3 2024 Webcast (live and replay will be available)

Tesla will also have an archived version of the webcast will be available on Tesla’s website approximately two hours after the session concludes.

Financial Performance

Tesla emphasized that vehicle deliveries and energy deployments are just two of the many metrics that reflect the company’s overall financial performance. The company’s quarterly financial results will be influenced by factors such as average selling price, cost of sales, and foreign exchange movements. The full financial results will be shared in the 10-Q filing, covering the period ended September 30, 2024.

As the company prepares for its third-quarter earnings call later this month, industry watchers will be looking closely for updates on its ongoing projects, including the Cybertruck ramp-up, energy division growth, and developments in new markets.

For more information, visit Tesla Investor Relations.

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Tesla Referral Code - Get Up to $2,000 Off a New Tesla

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If you’re planning to buy a new Tesla, consider using our referral code. Not only will you receive up to $2,000 off your vehicle, but you’ll help support our site.

Plus, if you take delivery by December 31st, you’ll also get 3 months of free Supercharging and Full Self-Driving (FSD).

Discount Per Model

• Model Y - $1,000 off

• Model 3 - $1,500 off

• Model S, Model X or Cybertruck - $2,000 off

Free Supercharging and FSD

You must take delivery by December 31st, 2024 to qualify for the three months of FSD and free Supercharging. It’s not clear whether Tesla will offer these benefits starting January 1st.

Referral Codes

All referral codes will give you the same benefits. However, each one is limited to 10 uses, so if one hits the limit, try another one.

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Tesla Resolves 700k Vehicle Recall via OTA Update; NHTSA Now Highlights OTA Recalls

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Tesla has issued a recall for 700,000 vehicles in the US, which addresses a software bug that impacted Tire Pressure Monitoring System (TPMS) sensors. Of course, this recall was resolved with an over-the-air (OTA) update on Tesla update 2024.38.7. 

As the software bug could potentially pose a safety issue, a mandatory NHTSA recall was filed by Tesla. This bug impacted the Model Y, Model 3, and Cybertruck. As usual, mainstream news media has let loose on Tesla, issuing articles and headline reports on TV covering the recall - but of course, not mentioning it was fixed by an OTA update, even before the notice was released.

You can read NHTSA’s entire recall notice here.

The Bug

Update 2024.38.3 reset the TPMS warning indicator when the vehicle was powered down or put to sleep between drives. This could potentially leave a driver unaware of a persistent TPMS issue, wherein they could have too little or too much air pressure in a tire.

According to the NHTSA filing, Tesla identified the issue on November 6th, 2024, and then confirmed in a further investigation that there was indeed an issue. Shortly afterward, update 2024.38.7 began rolling out on November 12th, just under a week later.

Tesla also confirmed that there were no real-life impacts - so no collisions, injuries, or fatalities as a result of this bug while it was in the wild. They did note that 76 warranty claims were filed during the 6-day period, which helped to isolate the issue.

OTA Recalls Now Recognized by NHTSA 

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According to a post by DriveTeslaCA, the NHTSA has now added an icon to their website indicating whether a recall is fixed via an OTA software update. 

The message reads: “Software Update Repairs Recall”. 

That’s certainly a step forward, letting users know the issue will be addressed via a software update and they won’t need to bring their car into service. We’d like to see NHTSA next adopt some of the lessons learned by Transport Canada, which issues recalls solely by e-mail.

NHTSA will be using approximately 50 trees worth of paper to print and ship the recall notices, which will likely arrive sometime in January - months after the issue has already been resolved by Tesla.

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