Tesla reports 1.1pc sales drop for 2024, first annual decline in at least 9 years
Business
Tesla reports 1.1pc sales drop for 2024, first annual decline in at least 9 years
DETROIT (AP) — Tesla’s global sales rose 2.3% in the fourth quarter after a sluggish start to the year that contributed the electric car company’s first year-over-year sales decline since at least 2015.
The annual decline for the Austin, Texas, company came despite offers such as 0% financing, free charging and low-priced leases.
Tesla delivered 495,570 vehicles from October through December, boosting deliveries to 1.79 million for the full year. But that was 1.1% below 2023 sales of 1.81 million as overall demand for electric vehicles in the U.S. and elsewhere slowed.
The fourth-quarter boost came with a cost. Analysts polled by FactSet expected Tesla’s average sales price to fall to just over $41,000 in the quarter, the lowest in at least four years.
That doesn’t bode well for Tesla’s fourth-quarter earnings, which the company said it would announce on Jan. 29.
