{"id":14530,"date":"2025-01-03T11:16:39","date_gmt":"2025-01-03T11:16:39","guid":{"rendered":"https:\/\/imsfund.com\/?p=14530"},"modified":"2025-01-03T11:16:39","modified_gmt":"2025-01-03T11:16:39","slug":"teslas-annual-electric-car-sales-drop-for-first-time","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2025\/01\/03\/teslas-annual-electric-car-sales-drop-for-first-time\/","title":{"rendered":"Tesla’s Annual Electric Car Sales Drop For First Time"},"content":{"rendered":"


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Though Tesla had a record-strong quarter in the final months of 2024, it wasn’t enough to stop the electric carmaker’s annual sales from dropping for the first time in its history.<\/p>\n

Tesla posted record-high numbers for the final three months of 2024, delivering 495,570 EVs compared to 484,507 shipped at the same time last year.<\/p>\n

However, Tesla’s annual numbers were down. The carmaker delivered 1,789,226 electric vehicles in 2024, a decline from the 1,808,581 EVs the company sold in 2023 and below analyst estimates by about 20,000 units, according to Barron’s<\/a>.<\/p>\n

Related:<\/b> Tesla Sales Show Demand Could Be Speeding Up For Electric Cars<\/a><\/p>\n

Tesla’s quarter results, while record-breaking, were also below Wall Street estimates of 504,800 deliveries, per Wedbush Securities<\/a>.<\/p>\n

Tesla shares were down nearly 6%<\/a> on Thursday following the news.<\/p>\n

Following President-elect Donald Trump’s win in November, Tesla’s market cap surged to over $1 trillion<\/a> for the first time since 2022. Tesla’s market cap is $1.2 trillion<\/a> at the time of writing.<\/p>\n

One reason for the decline is increasing competition from international companies.<\/p>\n

According to Bloomberg<\/a>, a Chinese Tesla competitor, BYD, sold 4.25 million EVs and plug-in hybrid cars in 2024 compared to the 1.79 million EVs Tesla sold.<\/p>\n

The U.S. EV market has also shifted to include more players. Clean Technica noted<\/a> that Tesla commanded less than 50% of the U.S. EV market for the first time in six years in 2024. Ford, Kia, Hyundai, and BMW were all rising competitors that encroached on Tesla’s market share.<\/p>\n

Related: <\/b>Tesla Reports ‘Record’ Earnings as Musk Predicts It Will Become ‘the Most Valuable Company in the World’<\/a><\/p>\n

“If they [Tesla] want to continue to see the growth they had, they need to expand to other sizes and price points,” Jeff Schuster, vice president of automotive research Global Data, told AP<\/a>.<\/p>\n

Analysts also told ABC News<\/a> that in the U.S., early EV adopters have already purchased vehicles, but mainstream car buyers are still hesitant to do so; they are worried about the technical aspects, costs, how many miles they can go on a single charge, and where to find charging stations.<\/p>\n

Related: <\/b>Elon Musk Announces the ‘Cybercab’ and Other Surprises at Tesla’s ‘We, Robot’ Event. Here’s What to Know.<\/a><\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Though Tesla had a record-strong quarter in the final months of 2024, it wasn’t enough to stop the electric carmaker’s annual sales from dropping for the first time in its history. Tesla posted record-high numbers for the final three months of 2024, delivering 495,570 EVs compared to 484,507 shipped at the same time last year. […]<\/p>\n","protected":false},"author":5,"featured_media":14531,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/assets.entrepreneur.com\/content\/3x2\/2000\/1735843849-Tesla-GettyImages-2090749423.jpg?format=pjeg&auto=webp","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-14530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/14530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=14530"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/14530\/revisions"}],"predecessor-version":[{"id":14532,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/14530\/revisions\/14532"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/14531"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=14530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=14530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=14530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}