Tesla Annual Sales Slip for First Time as Competition Grows

[LetMyPeopleVote]

14. Tesla sales dropped 1.1% in 2024, its first annual decline in a dozen years

People are getting tired of Musk and are stopping to buy Teslas

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https://apnews.com/article/tesla-sales-2024-drop-electric-vehicles-69af17c4e606625694af8293db25b2f3

DETROIT (AP) — Tesla posted its first annual sales drop in more than a dozen years Thursday, sinking a stock that has soared since Donald Trump’s victory on optimism Elon Musk’s close relationship to the president-elect will help the company.

Tesla’s global vehicle sales rose 2.3% in the final quarter thanks to 0% financing, free charging and low-priced leases. But that was not enough for billionaire Musk’s most valuable holding to overcome a sluggish start to 2024.

The Austin, Texas, company sold 495,570 vehicles from October through December, boosting deliveries to 1.79 million for the full year. That was 1.1% below 2023 sales of 1.81 million as overall demand for electric vehicles in the U.S. and elsewhere slowed.

The year-over-year global sales drop is Tesla’s first since 2011, according to figures from analytics firm Global Data. The company sold 1,306 vehicles in 2010, but that dropped slightly to 1,129 the following year.