Tesla Q1 Inventory Tops 50,000 Vehicles as Model 3 and Model Y Output Outpaces Deliveries

Tesla produced 408,386 electric vehicles (EVs) and delivered 358,023 units in the first quarter of 2024, resulting in a production surplus of 50,363 vehicles over deliveries and an inventory buildup exceeding 50,000 units. Of these, Model 3 and Model Y combined accounted for 394,611 units produced and 341,893 delivered, with production exceeding deliveries by 52,718 units. Meanwhile, other models—including Model S, Model X, and Cybertruck—saw production of 13,775 units and deliveries of 16,130 units in the quarter, with deliveries surpassing production by 2,355 units. Additionally, in the fourth quarter of 2023, Tesla produced 434,358 vehicles and delivered 418,227, adding 16,131 units to its inventory. Combined, the two quarters have resulted in an accumulated inventory of over 66,000 vehicles.