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flag Tesla reports its first sales drop since 2015, falling 1.1% in 2024 amid stiff competition.

flag Tesla reported its first annual sales decline since 2015, delivering 1.79 million vehicles in 2024, a 1.1% drop from 2023. flag Despite offering incentives like 0% financing, the company's sales fell short of expectations in the fourth quarter. flag Increased competition, particularly from Chinese rivals like BYD, and concerns over the cost and range of Tesla's vehicles have contributed to the decline. flag Tesla's shares fell over 5% following the report.

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