Tesla sales plummet
Posted: Fri Feb 07, 2025 2:16 pm
In 2024, Tesla experienced its first annual sales decline in over a decade, with deliveries decreasing by 1.1% to 1.79 million vehicles, down from 1.81 million in 2023. This downturn was particularly evident in Europe, where sales dropped by 13%, with significant declines in key markets such as Germany, France, and Italy. In Germany alone, sales plummeted by 41%.
APNEWS.COM
BUSINESSINSIDER.COM
Several factors contributed to this decline, including intensified competition from Chinese automaker BYD, which surpassed Tesla in global electric vehicle sales during the last quarter of 2024. Additionally, the absence of new mainstream models since the Model Y in 2020 has left Tesla's lineup less appealing amid a surge of new offerings from competitors.
THETIMES.CO.UK
BUSINESSINSIDER.COM
CEO Elon Musk's political engagements have also played a role, particularly his support for far-right parties, which has negatively impacted public perception and sales in Europe. Surveys indicate that a majority of British electric vehicle owners and potential buyers are now deterred from purchasing Tesla vehicles due to these associations.
REUTERS.COM
In response to these challenges, Tesla has implemented price reductions and offered incentives such as 0% financing and free charging. Despite these efforts, the company has cautioned investors to anticipate "notably lower" sales growth in 2024, signaling a period of strategic reassessment as it navigates an increasingly competitive electric vehicle market.
BBC.COM
More sources
Tesla Faces First Annual Sales Decline Amid Intensifying Competition source: apnews.com
Tesla sales dropped 1.1% in 2024, its first annual decline in a dozen years
https://apnews.com/article/69af17c4e606 ... hatgpt.com
businessinsider.com
Tesla sales in Europe are sliding. That's a problem for Elon Musk.
https://www.businessinsider.com/elon-mu ... hatgpt.com
reuters.com
Tesla annual deliveries fall for first time as incentives fail to drum up demand
https://www.reuters.com/business/autos- ... hatgpt.com
APNEWS.COM
BUSINESSINSIDER.COM
Several factors contributed to this decline, including intensified competition from Chinese automaker BYD, which surpassed Tesla in global electric vehicle sales during the last quarter of 2024. Additionally, the absence of new mainstream models since the Model Y in 2020 has left Tesla's lineup less appealing amid a surge of new offerings from competitors.
THETIMES.CO.UK
BUSINESSINSIDER.COM
CEO Elon Musk's political engagements have also played a role, particularly his support for far-right parties, which has negatively impacted public perception and sales in Europe. Surveys indicate that a majority of British electric vehicle owners and potential buyers are now deterred from purchasing Tesla vehicles due to these associations.
REUTERS.COM
In response to these challenges, Tesla has implemented price reductions and offered incentives such as 0% financing and free charging. Despite these efforts, the company has cautioned investors to anticipate "notably lower" sales growth in 2024, signaling a period of strategic reassessment as it navigates an increasingly competitive electric vehicle market.
BBC.COM
More sources
Tesla Faces First Annual Sales Decline Amid Intensifying Competition source: apnews.com
Tesla sales dropped 1.1% in 2024, its first annual decline in a dozen years
https://apnews.com/article/69af17c4e606 ... hatgpt.com
businessinsider.com
Tesla sales in Europe are sliding. That's a problem for Elon Musk.
https://www.businessinsider.com/elon-mu ... hatgpt.com
reuters.com
Tesla annual deliveries fall for first time as incentives fail to drum up demand
https://www.reuters.com/business/autos- ... hatgpt.com