Tesla (TSLA) reported on Jan. 2 that 2024 was the first year it witnessed an annual decline in deliveries of its vehicles. Once an unrivaled powerhouse in the world of electric vehicles, analysts and investors are now scrutinizing the company. Is this the beginning of a new trend for Tesla?
Deliveries for 2024 stood at 1.79 million vehicles, down 1.1% from the previous year. The total also came in below the estimate of 1.806 million units, according to 19 analysts polled by LSEG. Although its figures came in higher than Chinese rival BYD’s (BYDDY) deliveries at 1.77 million, the company recorded a yearly uptick of 12.1%, unlike Tesla.
