For the first time in nine years, Tesla announced a drop in sales
Kyiv • UNN
Tesla reported a decline in annual sales in 2024 to 1.79 million vehicles compared to 1.81 million in 2023. The decline is attributed to increased competition from Chinese and European manufacturers.
For the first time in nine years, the automobile company Tesla reported a drop in annual sales.The Hill reports this with reference to the company's press release, UNN writes.
Details
The document states that in 2024, Tesla delivered 1,789,226 cars worldwide, down from 1,808,581 cars in 2023.
Although the fourth quarter of last year was a record-breaking period in terms of shipments, they were not enough to significantly improve the annual figures.
The company's shares fell by almost 6% on Thursday afternoon, although they had risen sharply before then after the election victory of Donald Trump, whose supporter and ally is CEO Elon Musk.
The decline in Tesla's sales is due to increased competition in the electric vehicle market from manufacturers in China and Europe. For example, in 2024, the Chinese automaker BYD demonstrated an increase in sales of its cars around the world.
Recall
Following Donald Trump's victory in the US presidential election, Trump Media's shares rose by 30% and Tesla's by 15%. Market indices hit historic highs amid expectations of tax cuts.
