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Teslas may be exploding, but sales aren’t. Elon Musk’s car company has released its annual sales figures for 2024, which it says will be 1.79 million, down slightly from the 1.8 million the company delivered in 2023. discounted pricesmassive events based on hypeand Wider availability of Cybertruck.
The weaker sales figures for the year, which fell short of analysts’ estimates, came despite a frenzied dash to make up for lost time in the fourth quarter. From October to December, Tesla delivered 495,570 vehicles – a number driven in part by the company offers any incentive it can find to attract potential car buyers. Want 0% financing? You got it. “Full Self-Driving” and three months of free access to Supercharged? It’s over. Super cheap rentals? Of course. And yet the sales were short and now reserve fallsalso.
Typically, when you know you’re going to miss investor markers, you try to lower expectations for the future until you build your stock. But Musk has already laid the groundwork for exponential growth. Back in October, Tesla’s CEO told investors he expected sales to increase Up to 30% in 2025.
It would be fair to call this claim dubious, especially given that the company may not be able to meet its sales goals in a year when market conditions are more favorable than they will be soon. Musk’s friend Donald Trump appears to be ready Biden-era electric vehicle tax credit killswhich is Calculated by juicing EV sales over the past few years. Even places like California that intend to issue credits to encourage car buyers to go electric are now considering it. Excludes Tesla from eligibility.
Globally, the market is about to get even more complicated for Tesla to compete with. The company reached a record high in car sales in China last monthit is also being dined on the global stage by Chinese firm BYD. Company It sold 4.25 million cars This year and now it is threatening to overtake Tesla as the most popular EV in China.
No obvious savior is on the horizon for Tesla either. The Cybertruck remains the company’s most identifiable vehicle thanks to its futuristic junkyard vibe, but the company has sent Less than 50,000 units In 2024 and it looks like this the demand for the truck decreases or declines.
Maybe Trump’s plan loosen federal regulations on self-driving vehicles It will lead to a big run, which Tesla promises “Cybercab,” a two-seater autonomous car (it might actually be controlled remotely by humans) Musk claims will be under $30,000 and littering the roads in two to three years. But given by the company difficulties in increasing production in anything, it would be hard to imagine that it would be able to meet the demand, even if it offered the opportunity to turn the sales table.
