Reported 3 days ago
Tesla reported a 1.1% drop in sales for 2024, marking its first annual decline in more than 12 years. Despite a 2.3% increase in sales during the final quarter due to incentives like 0% financing, total vehicle deliveries for the year fell to 1.79 million, down from 1.81 million in 2023. The decline has been attributed to slowed overall demand for electric vehicles and increased competition in the marketplace, leading analysts to predict potential challenges ahead, especially with Tesla's aging model lineup and the need for more affordable options to attract mainstream buyers.
Source: YAHOO