Tesla electric car sales fall for first time in more than a decade

(Dan Tri) - The record high number in the fourth quarter is not enough to pull Tesla's global sales in 2024.

Tesla sold 495,570 vehicles in the fourth quarter of 2024, up from the record of 462,890 it had just achieved in the third quarter. However, analysts had forecast a figure closer to 500,000 vehicles. To reach global sales like those in 2023, Tesla would need to sell more than 510,000 vehicles in the fourth quarter.

Thus, reaching just under 500,000 vehicles in the fourth quarter has prevented Tesla from avoiding recording a decline in global sales in 2024 compared to 2023.

Specifically, Tesla closed 2024 with global sales of 1,789,226 vehicles, down from 1.8 million in 2023. Analyzing Tesla's 2024 sales, we see more than 1.7 million coming from the Model Y and Model 3. That means the Model S, Model X, and Cybertruck contribute less than 5% to Tesla's sales.

Despite achieving record sales in the fourth quarter, Tesla's total global sales in 2024 will still be lower than in 2023 (Illustration photo: APA).

Even record fourth-quarter sales were not enough to stop Tesla’s stock from falling. By the end of trading on January 2 (US time), Tesla shares were down 6.8% from the previous session. Over the past five trading days, Tesla’s stock price has fallen from $465 to just $375.

It’s unclear what could stop Tesla’s stock from falling, at least in the short term. Perhaps the alliance between Tesla CEO Elon Musk and President-elect Donald Trump will have an impact, but that will have to wait.

Tesla's upcoming launch of an upgraded version of the Model Y, its best-selling car, is also expected to boost sales, making investors more optimistic.

CEO Elon Musk has also expressed optimism about the company's future, predicting sales will increase 20% in 2025.

Additionally, a recent report from Deutsche Bank said that Tesla's head of investor relations, Travis Axelrod, confirmed plans to launch a lower-cost model, priced below $30,000, in the first quarter of this year.

This low-cost model, along with the launch of the upgraded Model Y, could provide a sales boost for Tesla, helping the company regain its position in the increasingly crowded electric vehicle market.

Source: https://dantri.com.vn/o-to-xe-may/doanh-so-xe-dien-tesla-lan-dau-tien-giam-sau-hon-mot-thap-ky-20250103165103084.htm