Tesla’s sales are finally picking up

After two straight quarters of declines, Tesla’s vehicle sales are finally on the upswing.

Tesla reported producing 469,796 vehicles over the three-month period that ended in September, a 9.1 percent increase compared to the third quarter of 2023. The company also reported delivering 462,890 vehicles to customers during Q3 of 2024, a 6.3 percent jump from Q2 2023.

It was also a measured improvement over the previous quarter’s numbers. Production was up 14.4 percent as compared to the second quarter of 2024, while delivery increased 5.8 percent. Tesla is making and selling more vehicles than it was earlier this year.

The Cybertruck may be helping, but Tesla doesn’t break out the numbers for its polarizing electric truck. The bulk of its production and delivery is still Model 3 and Y vehicles — 443,668 produced and 439,975 in Q3 — while everything else, including Model S, X, Cybertruck, and Tesla Semi, are lumped into the “other models” category.

That’s not to say the company doesn’t have challenges ahead. Overall EV sales are still growing slower than they were several years ago, with customers flocking to hybrids instead of pure battery-electric vehicles. Tesla only makes battery electrics, so it could be at somewhat of a disadvantage compared to legacy automakers with more diversified lineups.

The company faces increased competition — here in the US but also in China, where companies like BYD, Geely, and others are posting record EV sales numbers. Tesla doesn’t break out its numbers regionally, so it’s impossible to pinpoint its exact strengths and weaknesses.

Tesla says it will report its full third quarter earnings on October 23rd. But before that, on October 10th, the company is expected to reveal its long-awaited “robotaxi,” where CEO Elon Musk will make his most forceful pitch for Tesla’s future as an AI and robotics company.