The decline in sales volumes is due to increased competition in the electric vehicle market from manufacturers in China and Europe.
Car company Tesla reported a decline in annual sales for the first time in nine years. The Hill reported this on Thursday, January 2, citing the company’s statement.
The document states that Tesla has delivered 1,789,226 vehicles worldwide in 2024, up from 1,808,581 vehicles in 2023.
Although last year’s fourth quarter was a record for shipments, they weren’t enough to significantly improve year-over-year numbers.
The company’s shares fell by almost 6% on Thursday afternoon, although they rose sharply after the election victory of Donald Trump, whose supporter and ally is the company’s CEO Elon Musk.
The decline in Tesla sales is due to increased competition in the electric vehicle market from manufacturers in China and Europe. Thus, the Chinese automaker BYD has shown an increase in the sales of its vehicles worldwide in 2024.
It was previously reported that Tesla sales fell 8.5% in the first quarter of 2024 compared to a year earlier.
Tesla is recalling a batch of Cybertruck pickups for the sixth time in a year
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.