Ominous Sign? : For The First Time Tesla Sales Fell Year-Over-Year
Written by djfrosty on January 3, 2025
Source: NurPhoto / Getty / Tesla
Elon Musk has proudly hitched his electric wagon to the Trump train, but could that spell the end for his EV dominance? Recent financial numbers hint at some potential hard times ahead.
Spotted The Verge, Tesla’s 2024 delivery numbers are not looking good. For the first time, the company reported that sales had fallen year over year.
The website reports Musk’s EV company produced 1.77 million vehicles in 2024, a 4% drop from the previous year. Tesla also delivered 1.79 million cars this year, 1% less than in 2023, while deploying 31.4 GWh in energy storage.
There were some silver linings. Tesla reported a record fourth quarter for deliveries, with 495,570 vehicles arriving in customers’ driveways. The EV company also delivered 11 GWh of energy storage products, which it claims was also a record.
Tesla also produced 459,445 vehicles, mostly Model 3s and Ys, in 2024.
Q4 2024
Production: 459,445
Deliveries: 495,570
Energy storage deployments: 11 GWh
A record for both deliveries & deployments
–
Full year 2024
Production: 1,773,443
Deliveries: 1,789,226
Energy storage deployments: 31.4 GWh
— Tesla (@Tesla) January 2, 2025
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More Bad News For Tesla
Despite the late rally, Tesla flopped in 2024, falling short of its 2023 numbers. Donald Trump’s newest rump kisser, Elon Musk, warned of hardship for his company due to increased competition and a stale lineup of vehicles.
Even the world’s ugliest vehicle, the Cybetruck, and its “popularity” wasn’t enough to help Telsa have a good year.
According to Wedbush’s Dan Ives, despite breaking records, Tesla did not meet Wall Street’s target of 504,800 vehicle deliveries, resulting in a roughly 5 percent drop in the company’s stock price.
How does the company move forward under the Trump administration, which has made it clear he is not a fan of the incentives given to potential EV buyers? Begs the question? Why would Musk align himself with someone who would hurt his business in the first place?
We are intrigued to see if Musk and Tesla will face consequences in the future for allegiance to the MAGA movement.