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Tesla (TSLA) shareholders are increasingly concerned that CEO Elon Musk’s attention is being diverted from the electric vehicle company’s core operations. And their worries may not be unfounded.
The Musk-led company reported a yearly decline in vehicle deliveries in 2024 for the first time ever. Tesla sold 1.79 million vehicles in 2024, down 1.1% from 2023. Moreover, even the 2% boost in Q4 deliveries to 495,570 vehicles was modest, and projections from analysts at FactSet indicate that Tesla’s average vehicle sales price is expected to decline to slightly above $41,000 for the quarter. Adding to the misery, Tesla sales in Europe fell by 45% from the previous year.