American electric car pioneer Tesla Motors maintains its leadership in the EV in the second quarter (Q2) of 2024, despite various challenges. The company’s recently-announced production and delivery stats revealed a mixed performance, albeit with a significant milestone of 6,000,000 EV deliveries.

As part of its efforts to maintain its dominance, Tesla reduced production to decrease the gap between production and deliveries. In addition, the company made pricing adjustments to tackle variants in market demands.

In the April through June quarter of this year, Tesla’s global electric car production slipped 14 per cent year-over-year to settle at 410,831 units. This figure represents the company’s lowest quarterly volume since the Q3 period of 2022.

The duo of the Tesla Model 3 electric sedan and the Model Y electric crossover SUV accounted for 386,576 units, down 16 per cent year-over-year. Production of other models, including the Model S, Model X, and the Cybertruck, and the Semi, amounted to 24,255 units, up 24 per cent year-over-year.

When it comes to total global sales, the company delivered 443,956 EVs, down 5 per cent year-over-year. The Model 3/Model Y duo accounted for 422,405 deliveries, which also represented decline of 5 per cent year-over-year, while the other electric models of the brand accounted for 21,551 deliveries, up 12 per cent year-over-year.

The total results mentioned above show that the company’s performance in terms of deliveries was worse than a year ago, but the Cybertruck ramp-up provided a boost to the category of the other models. The Model S/Model X volume continued to decline.

Year-to-date (YTD), total production slipped 8 per cent to 844,202 units, with the Model 3/Y accounting for 798,952 units (down 9 per cent) and the other models accounting for 45,250 units (up 16 per cent). Total deliveries declined 7 per cent to 830,766 units, with the deliveries of the Model 3/Y and other models falling by 8 per cent and 29 per cent to settle at 792,188 units and 38,578 units, respectively.

Tesla’s journey to six million EV deliveries highlights the company’s leading position in the global EV market. Th period of Q2 2024 presented some production-related challenges but the EV giant successfully managed to maintain its dominance in the market by reducing production and making pricing adjustments. Looking ahead, the EV giant’s ability to adapt and manage production will undeniably be crucial in maintaining its leading position and achieving growth targets in the future.