Canadian Affairs’ Post

Tesla reported 495,570 vehicle deliveries in Q4 2024, falling short of analysts' expectations of approximately 506,000. This marks a record quarter for the company in terms of deliveries, though it reflects increasing competition and challenges in the EV market. For 2024 as a whole, Tesla delivered 1.789 million vehicles, a 1% year-over-year decrease from the 1.81 million delivered in 2023. This was Tesla's first annual sales decline since 2011.

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.

Same news, two tones? Tesla reports quarterly gain of 14% in the three months ending on June 30th (BBC News), but still sales declined from the previous year for two quarters in a row (CNN). A nightmare for Sentiment Analysis! The reasons are typical of an evolving market: Price war, increasing competition etc., but with the backdrop of high interest rates and lower consumer demand.. "Tesla surprises with better than expected car sales" https://lnkd.in/epQD2ivy "Tesla sales fall again as more automakers crowd electric vehicle market" https://lnkd.in/eE-mv7pv #EV #marketintelligence #enterpriseriskassessment Vertaeon LLC

It's been a rollercoaster year for Tesla, after a tough sales start to the year, the EV maker has said it still expected "slight" growth in vehicle deliveries for 2024, and was pushing a number of end of year deals to help it achieve that. This morning Tesla reported its fourth quarter and annual delivery numbers , the EV maker, saying it sold a record 495,570 vehicles in the fourth quarter, a new quarterly record. But, the number missed both analyst estimates and the nearly 515,000 vehicles the company would have needed to deliver to maintain annual growth for 2024. In total, Tesla said it sold 1.79 million vehicles last year, down from about 1.8 million vehicles in 2023, the first annual decline in over a decade for the EV maker. More on Bloomberg News https://lnkd.in/gEKnkxxg

💡 While most electric vehicle (EV) manufacturers are experiencing growth, Tesla has encountered unique challenges. In the United States, EV sales increased by 2.6% in the first quarter compared to the same period last year. However, this represents a 15.2% decline from the previous quarter’s sales. 💡 Typically, the first quarter sees the lowest sales figures in the overall vehicle market, trailing the fourth quarter. This trend has not applied to EVs, which have seen consistent quarterly growth since mid-2020. The subdued growth in early 2024 can be attributed primarily to Tesla, the frontrunner in the EV market, which saw a 13% drop in sales during the quarter. 💡 Tesla’s impact on the market is significant, given that it accounts for approximately half of the country’s EV sales. The company has faced several hurdles, notably the underwhelming debut of the Cybertruck and minimally significant updates to its flagship models, the Model Y and Model 3. #electricvehicles #ev #transformation #tesla #ford

💡 While most electric vehicle (EV) manufacturers are experiencing growth, Tesla has encountered unique challenges. In the United States, EV sales increased by 2.6% in the first quarter compared to the same period last year. However, this represents a 15.2% decline from the previous quarter’s sales. 💡 Typically, the first quarter sees the lowest sales figures in the overall vehicle market, trailing the fourth quarter. This trend has not applied to EVs, which have seen consistent quarterly growth since mid-2020. The subdued growth in early 2024 can be attributed primarily to Tesla, the frontrunner in the EV market, which saw a 13% drop in sales during the quarter. 💡 Tesla’s impact on the market is significant, given that it accounts for approximately half of the country’s EV sales. The company has faced several hurdles, notably the underwhelming debut of the Cybertruck and minimally significant updates to its flagship models, the Model Y and Model 3. #electricvehicles #ev #transformation #tesla #ford

Bloomberg writes of Tesla's woes that "the results offer a sobering reminder of the real-world challenges for EV makers". Does it though? Department of Transportation data shows that EV sales continue to outperform the previous year. Are consumers looking elsewhere for their EVs? Has the brand suffered? Tired of lining Musk's pockets? Anecdotally, this is definitely true among folks I know. There are also increasingly more options. For example, Ford's electric Mustang SUV crossover outranks all others in safety ratings. I did a test drive - it was amazing. It has an adaptor to work with the supercharge stations. What's not to love? It will be interesting to see what happens with the new administration, and whether the market will be further manipulated. I don't expect we'll see any Chinese EVs (unless you count Chinese-made Teslas) on the US market anytime soon, that's for sure.

🚨 Breaking News: Tesla Reports Annual Sales Drop 🚨 Tesla’s annual sales have taken a surprising dip for the first time in years. 📉 What’s driving the decline for the EV giant? Read the full story here 👉 https://lnkd.in/eHdZpc8T 🔋 Let us know your thoughts: ⚡ Is Tesla losing its spark? ⚡ Will they bounce back stronger? #Tesla #ElectricVehicles #EVNews #BrakingNews #TeslaSales #GreenEnergy #SustainableLiving #ElectricCars #AutomotiveIndustry #FutureOfMobility #CleanEnergy #TechNews #EVMarket

Tesla Inc.’s annual vehicle sales dropped for the first time in more than a decade despite a year-end push that sent deliveries to a record in the fourth quarter. The Elon Musk-led company sold 1.79 million vehicles last year, it said Thursday, which was slightly less than what it delivered in 2023 and also below analysts’ consensus estimate. The results offer a sobering reminder of the real-world challenges for EV makers, even as hype around driverless cars and Musk’s closeness with President-elect Donald Trump have sent Tesla’s stock soaring in recent months. Lukewarm consumer demand is weighing on sales of electric cars, an issue that could be exacerbated by Trump’s push to rein in EV incentives.

Tesla’s global annual sales dropped for the first time in the company’s history, with a 1.1% dip in vehicle deliveries in 2024. Despite the decline, Tesla delivered 495.5k+ vehicles in the last quarter of 2024, up 2.3% YoY.