The Entrepreneurs Weekly
No Result
View All Result
Sunday, August 10, 2025
  • Login
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
Subscribe
The Entrepreneurs Weekly
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
No Result
View All Result
The Entrepreneurs Weekly
No Result
View All Result
Home Business

Tesla’s Annual Electric Car Sales Drop For First Time | Entrepreneur

by Brand Post
January 2, 2025
in Business
0
Tesla’s Annual Electric Car Sales Drop For First Time | Entrepreneur
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Though Tesla had a record-strong quarter in the final months of 2024, it wasn’t enough to stop the electric carmaker’s annual sales from dropping for the first time in its history.

Tesla posted record-high numbers for the final three months of 2024, delivering 495,570 EVs compared to 484,507 shipped at the same time last year.

However, Tesla’s annual numbers were down. The carmaker delivered 1,789,226 electric vehicles in 2024, a decline from the 1,808,581 EVs the company sold in 2023 and below analyst estimates by about 20,000 units, according to Barron’s.

Related: Tesla Sales Show Demand Could Be Speeding Up For Electric Cars

Tesla’s quarter results, while record-breaking, were also below Wall Street estimates of 504,800 deliveries, per Wedbush Securities.

Tesla shares were down nearly 6% on Thursday following the news.

Following President-elect Donald Trump’s win in November, Tesla’s market cap surged to over $1 trillion for the first time since 2022. Tesla’s market cap is $1.2 trillion at the time of writing.

One reason for the decline is increasing competition from international companies.

According to Bloomberg, a Chinese Tesla competitor, BYD, sold 4.25 million EVs and plug-in hybrid cars in 2024 compared to the 1.79 million EVs Tesla sold.

The U.S. EV market has also shifted to include more players. Clean Technica noted that Tesla commanded less than 50% of the U.S. EV market for the first time in six years in 2024. Ford, Kia, Hyundai, and BMW were all rising competitors that encroached on Tesla’s market share.

Related: Tesla Reports ‘Record’ Earnings as Musk Predicts It Will Become ‘the Most Valuable Company in the World’

“If they [Tesla] want to continue to see the growth they had, they need to expand to other sizes and price points,” Jeff Schuster, vice president of automotive research Global Data, told AP.

Analysts also told ABC News that in the U.S., early EV adopters have already purchased vehicles, but mainstream car buyers are still hesitant to do so; they are worried about the technical aspects, costs, how many miles they can go on a single charge, and where to find charging stations.

Related: Elon Musk Announces the ‘Cybercab’ and Other Surprises at Tesla’s ‘We, Robot’ Event. Here’s What to Know.



Source link

Tags: AnnualBusiness NewsCarCarsDropElectricelectric vehiclesentrepreneurNews and TrendsSalesSelfDriving CarsTeslaTeslasTime

Related Posts

Get More Done With a Touchscreen Chromebook That Travels Light | Entrepreneur
Business

Get More Done With a Touchscreen Chromebook That Travels Light | Entrepreneur

August 10, 2025
Power and Portability Meet In This Near-Mint 13″ MacBook Pro | Entrepreneur
Business

Power and Portability Meet In This Near-Mint 13″ MacBook Pro | Entrepreneur

August 9, 2025
How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur
Business

How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur

August 9, 2025
  • Trending
  • Comments
  • Latest
Meet Amir Kenzo: A Well Known Musical Artist From Iran.

Meet Amir Kenzo: A Well Known Musical Artist From Iran.

August 21, 2022
Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

April 20, 2024
Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

May 10, 2024
Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

August 8, 2024
Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

0
U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

0
GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

0
Brad Winget’s Tips and Tricks on Having a Career in Real Estate

Brad Winget’s Tips and Tricks on Having a Career in Real Estate

0
Get More Done With a Touchscreen Chromebook That Travels Light | Entrepreneur

Get More Done With a Touchscreen Chromebook That Travels Light | Entrepreneur

August 10, 2025
Power and Portability Meet In This Near-Mint 13″ MacBook Pro | Entrepreneur

Power and Portability Meet In This Near-Mint 13″ MacBook Pro | Entrepreneur

August 9, 2025
How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur

How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur

August 9, 2025
5 Trading Secrets That Could Mean Retiring 30 Years Early | Entrepreneur

5 Trading Secrets That Could Mean Retiring 30 Years Early | Entrepreneur

August 9, 2025

The EW prides itself on assembling a proficient and dedicated team comprising seasoned journalists and editors. This collective commitment drives us to provide our esteemed readership with nothing short of the most comprehensive, accurate, and captivating news coverage available.

Transcending the bounds of Chicago to encompass a broader scope, we ensure that our audience remains well-informed and engaged with the latest developments, both locally and beyond.

NEWS

  • Business
  • Politics
  • Entrepreneurship
  • Entertainment
Instagram Facebook

© 2024 Entrepreneurs Weekly.  All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
  • POLITICS
  • BUSINESS
  • CONTACT US
  • ADVERTISEMENT

Copyright © 2024 - The Entrepreneurs Weekly

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In