Tesla (TSLA) has launched its Q1 2025 manufacturing and supply numbers. The automaker confirmed it delivered 336,681 electrical autos in the course of the first three months of the 12 months — far under expectations.
In Q1 2024, Tesla delivered 386,810 electrical autos.
Attributable to demand points and manufacturing challenges associated to the Mannequin Y changeover, Tesla was anticipated to see fewer deliveries in Q1 2025.
In response to Tesla-compiled analyst consensus, the automaker was anticipated to report “377,592 deliveries” within the first quarter. The Bloomberg consensus from Wall Avenue analysts is increased at 390,000 deliveries.
In the present day, Tesla reported that it delivered 336,681 EVs in Q1 2025.
| Manufacturing | Deliveries | Topic to working lease accounting | |
| Mannequin 3/Y | 345,454 | 323,800 | 4% |
| Different Fashions | 17,161 | 12,881 | 7% |
| Whole | 362,615 | 336,681 | 4% |
That’s 40,000-55,000 fewer items than anticipated, relying on the consensus, and down 13% year-over-year. It’s additionally down 32% quarter-over-quarter.
Tesla is blaming the decrease deliveries on the manufacturing change to the brand new Mannequin Y, which undoubtedly had an impression, but it surely’s onerous to say by how a lot.
The automaker wrote within the launch about manufacturing and supply numbers:
Whereas the changeover of Mannequin Y traces throughout all 4 of our factories led to the lack of a number of weeks of manufacturing in Q1, the ramp of the New Mannequin Y continues to go properly.
As now we have beforehand reported, Mannequin 3 gross sales, which aren’t affected by provide points like Mannequin Y this quarter, have been down 30% in Europe for the primary 2 months of the 12 months. This factors to Tesla additionally having demand points.
In the meantime, Tesla’s manufacturing numbers additionally affirm that Tesla added about 26,000 electrical autos to its stock this quarter. A few of these autos are in transit to clients.
Tesla additionally disclosed having deployed 10.4 GWh of vitality storage merchandise throughout Q1 2025.
Electrek’s Take
That’s worse than even essentially the most pessimistic analysts have been anticipating. It might level to a nasty efficiency in US. We have now fairly good visibility into Europe and China, however the US market is extra opaque and more durable to foretell.
A miss of 40,000 items would recommend that Tesla is doing worse within the US than anticipated amid main model points and the Mannequin Y changeover.
It’s onerous to position numerous blame on the Mannequin Y manufacturing ramp, which Tesla itself says goes “properly,” particularly since Tesla may ship new Mannequin Y autos inside a day within the US on the finish of March.
This might subsequently level to stronger-than-expected model injury within the US.
The vitality storage deployment is a silver lining with sturdy efficiency for a primary quarter, however the additional 6 GWh doesn’t compensate for 50,000 fewer autos delivered in comparison with final 12 months.
