Electrifying Tesla Statistics By Facts, Total Vehicles Produced, Manufacturers and The Best Selling Cars
Updated · Oct 30, 2024
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Introduction
Electrifying Tesla Statistics: Tesla maintains its leadership in the electric vehicle (EV) market in the year 2024 again, surpassing its previous records of sales and technological advancement. Tesla has received significant recognition for the performance of its electric vehicles and innovative technologies and is committed to green transport.
As one of the world’s most treasured automotive companies, this year, the car manufacturer has broken its records in terms of production, deliveries, and revenues. Let’s zoom in on some of the Electrifying Tesla statistics for the year 2024.
Editor’s Choice
- Electrifying Tesla statistics anticipated that the Turnover of Tesla Inc. will see USD 101B by the year 2024.
- Over the period of 2024-2029, the revenue is expected to increase at a CAGR of 0.22%, which means that the estimated market size will reach USD 102 billion by 2029.
- By 2029, Electrifying Tesla statistics forecasted that Tesla will manage to sell 1.798 million cars.
- The weighted average price of a Tesla car is estimated to be close to USD 56,000 in the year 2024.
- Nationally, the regional sales of Tesla are expected to be the highest in the USA, with revenues reaching USD 63.38 billion in 2024.
- By 2023, the company’s business thrived, entering the top fifteen most valuable brands around the globe across all industries over the years.
- The company expanded operations to other markets and sold 1.8 million vehicles resulting in the new geographical scope.
- TESLA has global operations but still relies on its home market for most of its revenue.
- The company made its first profit in 2020 and recorded Net Income growth in the following years due to its ability to control the rising revenue cost.
- The core business of Tesla lies in the automotive sales of over USD 78.5 billion.
- Moreover, the company has also raised its R&D budget considerably, which is aimed at things such as AI and connected cars.
- According to Electrifying Tesla statistics, a significant achievement for Tesla in the year 2023 was becoming the standard for North American charging after many of its rivals integrated its high-speed charging technology.
- Tesla has increased the number of Superchargers available to its customers and intends to make them available to more electric vehicles, thus growing the customer base.
- In addition to this, Tesla also managed to rank in the top ten in the U.S. automotive market, which confirms that the U.S. market is the most dominant for Tesla.
- The growing competition from other markets, especially China, has made Tesla’s dependence on the domestic market more significant.
- BYD, a Chinese-based automobile manufacturer, dethroned Tesla and became the best-selling electric vehicle brand in 2022.
- It widened this gap by selling over a million more units than Tesla in 2023.
- The popularity of Tesla’s technology has also led to a resurgence in the sale of EVs in the U.S., and new entrants such as Rivian, Lucid Motors, and Canoo have emerged in the already saturated domestic market.
- However, disregarding the expansions of the market, these start-ups still encounter challenges in making profits, with Lucid Motors losing approximately USD 2.8 billion in 2023.
- Even if the company performed well economically in the year 2023, the worldwide competition is putting pressure on the necessity of innovation and development.
- Moreover, due to issues related to its CEO and business methods, the company has suffered fluctuated indices with its Nasdaq stock, which are precursors of trouble that may come in future for Tesla.
Tesla Key Facts
- During the year 2023, there was an increase in the number of vehicles produced by 35% to 1.85 million from the figure reached the previous year.
- The number of vehicles delivered also grew by 38% to 1.81 million. In Q1 2024, the company was able to produce 495,000 vehicles, and more than 484,000 were delivered.
- Recent Electrifying Tesla statistics show that the revenue of the company in the year 2023 was USD 96.77 billion, which is an increase of 18.79% from the earlier year when the revenue was USD 81.46 billion.
- For the first quarter of the year 2024, the company recorded USD 21.3 billion in revenue.
- In the United States electric vehicle (EV) market, Tesla has an outstanding 55% market share, with 654,888 EVs sold in the year 2023.
- The sales of Tesla vehicles in the year included 603,304 EVs sold in China, which corresponds to 7.5% of the share.
- Tesla performed well in the region, selling 63,682 units in Germany, 12% of the market, 62,711 in France, and 16,633 in Italy, which has a 24.9% market share.
- Tesla Model Y and Model 3 were the best-selling Tesla cars in the world.
- For the first quarter of 2024, the number of Model 3/Y vehicles sold by the company stood at 369,783, while the Model X/S vehicle sales were 17,027.
- As of the end of 2023, Tesla had focused on the operation of 5,878 Supercharger stations across the globe, whereby 68.12% of the total stations were located in the US and China.
- The number of supercharger stations increased by 91.47% over the last two years.
- In 2023, Tesla managed to sell 23,058 Model Y vehicles in Norway.
- The most sold models in Germany were Model Y (45,818 units) and Model 3 (15,865 units).
- The highest-selling Model Y was in China, reaching sales of 456,394 units as for the year 2023.
- By the last day of 2023, Tesla recorded a market capitalization of USD 789.89 million but recorded a decrease to USD 616.47 billion as of February 2024.
- Electrifying Tesla statistics reveal that the corporation declared achieving GAAP USD 15 billion net income in its 2023 annual report, and USD 7.9 billion of this was produced in fourth-quarter operations only.
- In 2023, Tesla broke the record for global EV sales by selling 1,845,985 electric vehicles, the most it has ever sold in a year.
- The largest hands of Tesla’s EV market were in the US and China: 654,888 vehicles in the US and 603,304 in China.
- In the year 2023, Tesla started shipping its long-awaited Cybertruck, although there were delays again, postponing the deliveries to the early months of 2024.
- In Q4 2023, Tesla installed 41 megawatts (MW) of solar capacity and 3.2 gigawatt-hours (GWh) of energy storage.
- 23 million electric vehicles were manufactured and sold worldwide by Tesla, with a 17 % cut-out share out of that percentage of the total market.
- The best-selling vehicles during the year were Model Y (1,211,601 units) and Model 3 (529,287 units).
Tesla Total Vehicles Produced Worldwide
(Reference: statista.com)
- According to Electrifying Tesla statistics, in the latest quarter, which ended in December, Tesla built around 433400 cars. This is a decrease of 12.4% on the prior quarter and about a 1.7% drop on a year-over-year basis for 2024 Q1.
- The outbreak of COVID-19 in China was expected to have adverse effects on the Shanghai Tesla plant.
- Nevertheless, in the first two quarters of 2020 alone, the company manufactured almost 185,000 units.
- When the virus made its way into the United States, operations at the factory in Fremont, California, were suspended.
- The reopening of the plant in May, which attracted copious amounts of backlash, still made it possible for over 82,000 vehicles to be manufactured in Q2 2020.
- Tesla experienced growth in production in every consecutive quarter, ultimately achieving the highest production levels ever in the fourth quarter of 2023.
- In the year 2023, Tesla managed to manufacture nearly 1.85 million units, which is an approximate increase of 35% over its impressive performance for the year 2022.
- This increment was especially fueled by the popularity of the Model 3 and Model Y.
- Even though Model 3 was the best-selling plug-in electric vehicle in 2020 and 2021, it had stiff competition in the year 2023 from other Tesla vehicles, such as Model Y and the Model S Plaid version 2, making it take third place in global sales for the year.
Tesla Total Vehicles Delivered Worldwide
(Reference: statista.com)
- Electrifying Tesla statistics indicate that during the initial three months of 2024, Tesla was able to ship more than 386,800 cars.
- Compared to the prior year’s fourth quarter, when the number of automobile shipments surpassed 484,000 units, establishing the company’s highest figure yet, this is about 20.2% lower.
- In June 2023, Tesla was the most valuable brand in the American automotive market; its brand equity was more than twice that of the second-placed company, which was Toyota.
- In July 2023, Electrifying Tesla statistics reported that Tesla was among the top ten by market
capitalization,500 index, at the approximate value of USD 880.8 trillion. - Nonetheless, Tesla underwent a significant decline in market value when Elon Musk purchased Twitter.
- As of the close of trading on December 20, 2022, the market values of Tesla have fallen by 65% since January 3, 2022.
- Most of the initial increase in the company’s market value came from the sales of Model 3, which was the company’s Model strategy aimed at penetrating the mass market.
- In the year 2023, the Model 3 was constantly ranked as one of the most sold EVs in the world, next to the Model Y.
- Nevertheless, the Model 3 is now under immense competition from other Tesla models, such as the Model Y and the new Model S Plaid.
Tesla Gross Profit Margin Statistics
(Source: statista.com)
- As can be seen from the above Electrifying Tesla statistics, the profit margin of Tesla has seen a considerable fall from the two-year high of almost 30% that it had reached about two years ago.
- By the start of the previous year, it had dropped to less than 20%, and in the second quarter of 2024, it would go lower to 14.6% – the lowest profit margin that Tesla has managed to record in the last five years.
- Currently, Tesla is in Burban (which is also in Los Angeles) introducing its robotaxi known as the CyberCab. This occasion is viewed as very important to the company that has been making promises about this technology for a long period.
- At this point, enough time and effort has been dedicated to this, and in fact, Tesla and its founder, Mr. Elon M., are under quite a lot of stress to meet these expectations that have been existing for quite some time.
- Apart from these high hopes, Tesla has been up against the wall in its primary business segment of electric vehicles, power pricing copped despite fierce infliction threat at the new growth path.
- Tesla reported its Q2 2024 earnings of USD 1.48 billion, which is a plunge of more than 40% year-on-year, down from USD 2.70 billion in the second quarter of 2023.
- After the introduction of more vehicle models into the market, the company has lowered the prices of its cars in the wake of intensifying rivalry and lower demand and also stepped up funding of artificial intelligence-related initiatives (for example, onboard computers and other sensors), resulting in a significant shrinking of its profit margins.
- While results for Q3 from Tesla are pending, the firm communicated that sales of vehicles increased once more over the previous quarter to 462,890 units.
Top 5 Electric Vehicle Manufacturers
(Source: statista.com)
- Despite Tesla being regarded as the first in the industry for many years, competition is growing at an extremely high rate nowadays.
- According to Electrifying Tesla statistics, the Chinese conglomerate BYD, which specializes in manufacturing electric vehicle batteries, electronics, plug-in hybrids, and pure electric vehicles, gained nine percentage points in market share from 2021 to 2024.
- In the same period, traditional automobile manufacturing companies, such as Volkswagen’s and Geely-Volvo’s investment in Battery Electric Vehicle (BEV) segments, only achieved a low market share of 7% and 8%, respectively.
- The last statistics obtainable indicated that SAIC Motor Corporation, a state-owned company that is incorporating Wuling jointly with General Motors, also took over 7% of the market segment.
- In the period between 2023 and January to May 2024, BYD lost 1% market share, whilst Tesla lost 2%.
- During this period, around 45,000 vehicles or approximately 9,000 vehicles per month was the gap in deliveries between Tesla and BYD, which goes on to show how fierce the rivalry between the two companies has become.
- BYD aims to provide BEVs to the majority of consumers, whereas Tesla’s product line is more on the high-end side.
- This price gap is likely to be narrowed due to the impending increase in tariffs on vehicles imported from China from 25% to 100%, which is meant to begin in the early days of August.
- This strategy, which ‘legally’ proposes to increase sales in the USA, is expected to heighten the existing tensions between China and America.
- As per EV Volumes, approximately 14 million electric vehicles were available for purchase in 2023, 70% of which were battery electric vehicles (BEVs).
- However, of the total light vehicles sold around the globe, 84% were either combustion engine vehicles or non-electric fuel-powered vehicles. China was both the leading exporter and the highest market for hybrids and BEVs, controlling 65% and 59% of the markets, respectively.
Tesla Best Selling Cars
(Source: statista.com)
- With the recent avalanche of negativity concerning Tesla, as more and more issues arise from the company’s CEO, it is easy to forget the fact that Tesla automobiles are still in great demand.
- Nikkei Asia adds that the electric car manufacturer, Tesla, has still remained the leader in sales of electric vehicles in both America and the rest of the world.
- Publicly available data from Cox Automotive’s Kelley Blue Book indicate that in the first three quarters of 2022, out of the six top-selling EVs in the USA, four were made by Tesla.
- The Model Y and Model 3, respectively, are the best-selling cars ever manufactured by Tesla, and they are way ahead of all other cars.
- In the first three quarters of 2022, approximately two-thirds of all-electric vehicle sales in the United States were accounted for by Tesla.
- The estimates provided for sales from all markets do not indicate any change for the last quarter.
Conclusion
Electrifying Tesla statistics 2024, as demonstrated by all the possible financial and statistical indicators, elaboration on innovations, and the existing global market shares, points to the sustaining leading position of the company in the electric vehicle market. nepiešnímšana company is definitely in a good position to revolutionize not only transport as it is understood now in terms of electric capacity but far beyond.
Sources
FAQ.
Tesla’s revenue is expected to register over $101 billion in turnover as soon as 2024. In the years 2024 and 2029-2029, management anticipates revenue growth at a compound annual growth rate (CAGR) of 0.22%, thus managing to project an estimated revenue of $102 billion by 2029.
In the year 2023, Tesla manufactured around 1.85 million vehicles, which was about 35% more than the previous year. The growth in vehicle deliveries was also reported at 38%, which translated to 1.81 million units. In Q1 2024, Tesla made 495,000 cars and shipped out more than 484,000 units, which was a slight decline compared to the all-time best record of 484,000 units in Q4 2023.
As of the year 2023, Tesla accounted for 55% of the EVs in the U.S. market and sold 654,888 EVs to the country. It is also worth noting that China sold 603,304 EVs for the company, representing 7.5% of the market. As expected, massive countries such as Germany, France, and Italy also experience some of the strong sales of the very same company outside the United States.
However, competition is on the rise, especially with regard to the Chinese brand BYD, which increased its market share by nine percentage points in the period 2021 to 2024. In the same period, Tesla’s market share began to decline by 2% between 2023 and the end of the first quarter of 2024, courtesy of increased competition from BYD.
In 2023, the two best-selling car models in the world were the Tesla Model Y and the Model 3. The Model Y proved successful, with over 1.2 million units sold worldwide and 456,394 units sold in China. Such models have always easily emerged at the top of the competition, which is why manufacturers maintain their supremacy in the EV market.
Maitrayee, after completing her graduation in Electrical Engineering, transitioned into the world of writing following a series of technical roles. She specializes in technology and Artificial Intelligence, bringing her experience as an Academic Research Analyst and Freelance Writer, with a focus on education and healthcare under the Australian system. From an early age, writing and painting have been her passions, leading her to pursue a full-time career in writing. In addition to her professional endeavors, Maitrayee also manages a YouTube channel dedicated to cooking.