Tesla’s global annual sales experienced a decline in 2024 for the first time in at least 9 years, according to data released by the American electric vehicle company.
In the year that just ended, Elon Musk’s company delivered 1,789,226 vehicles, representing a 1.1% decrease compared to the sales recorded in 2023, pressured by a drop in demand for electric vehicles in the U.S. and other markets.
However, the American manufacturer saw a strong fourth quarter, which mitigated a sharper decline in sales for 2024, with 495,570 units sold, benefiting from a decrease in prices and the availability of charging options.
The momentum from the fourth quarter came at a cost, as American analysts expected Tesla’s average selling price to drop to around $41,000 in the last quarter, the lowest figure in about four years.
The result achieved by Tesla in the last quarter of 2024 increased by about 2% compared to the previous year, but fell short of the approximately 515,000 vehicles needed to surpass the performance achieved in 2023.
In terms of production, Tesla’s factories produced 459,445 vehicles in the last three months of 2024, which translates to a 7.2% decrease compared to the fourth quarter of 2023. Thus, globally, Tesla produced 1,773,443 units last year, down 3.9% from the 1,845,985 vehicles manufactured in 2023.
With these results, Tesla saw the Chinese BYD close in on the global leadership in sales of 100% electric vehicles, after the Shenzhen-based manufacturer announced that it ended 2024 with 1.76 million units sold that are 100% electric.
