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Tesla reports its first sales drop since 2015, falling 1.1% in 2024 amid stiff competition.
Tesla reported its first annual sales decline since 2015, delivering 1.79 million vehicles in 2024, a 1.1% drop from 2023.
Despite offering incentives like 0% financing, the company's sales fell short of expectations in the fourth quarter.
Increased competition, particularly from Chinese rivals like BYD, and concerns over the cost and range of Tesla's vehicles have contributed to the decline.
Tesla's shares fell over 5% following the report.
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Tesla reporta su primera caída de ventas desde 2015, cayendo un 1,1% en 2024 en medio de una dura competencia.