Tesla reports its first-ever annual drop in deliveries

Tesla unveiled its first . Total deliveries in 2024 hover around 1.78 million vehicles, but the company delivered 1.81 million vehicles in 2023. This is as follows Similar news for Q1 2024but this is only for one quarter.

Deliveries rose slightly in the fourth quarter, to 495,000 vehicles this year and 484,000 vehicles in 2023. . These analysts expect fourth-quarter deliveries to be in the range of 506,000 vehicles. Tesla doesn’t release actual U.S. sales figures, so these delivery metrics are the closest we have.

Figures in Europe have also declined and by 2024 will be down 14% compared to last year. This is based on registration data from the European Automobile Manufacturers Association.

We don’t have a concrete reason why Tesla’s deliveries are starting to slip, but there are countless options. The company still hasn’t produced a budget-friendly electric car, instead focusing its efforts on and . Patrick George, Editor-in-Chief Electric car interior,Tell CNBC that cybertruck It has begun to “pile up in used car lots.”

The company is no longer the only electric vehicle game in town, either. it faces stiff competition but also traditional manufacturers. Companies such as BMW, General Motors, Hyundai and Volkswagen have begun mass-producing electric vehicles. Finally, there’s Elon Musk.

Tesla’s stock price remains strong this year, up 60% from 2023.

In other news, I don’t understand stocks. ford, worth less than $10 per share. Tesla currently trades at $380 a share, but its sales are significantly lower than Ford and nearly every other major automaker. If major U.S. auto companies start investing more in humanoid robots, rival stocks could rise .

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