Tesla delivered fewer automobiles final yr than it did in 2023, marking its first year-to-year drop and signaling that the corporate is struggling to succeed in new consumers. That means Tesla’s Cybertruck, which is the corporate’s first true new mannequin since 2020, did little to spice up the corporate’s development in its first full yr of gross sales.
The firm introduced Thursday that it delivered 1.77 million automobiles globally in 2024, down from 1.81 million in 2023. Just 85,133 of these automobiles delivered have been what Tesla refers to as “different fashions,” which incorporates the getting old Model S sedan, Model X SUV, and the Cybertruck. Tesla’s inventory, which has been on a run since CEO Elon Musk helped Donald Trump win re-election in November, dropped about 2% in pre-market buying and selling.
The drop is a stark change for Tesla and Musk, which spent years selling the objective of a 50% annual development price. The firm already began to overlook that mark over the previous few years — even with huge, unrelenting worth cuts — however 2024’s drop is the primary time gross sales truly declined since Tesla began delivering its first mass-market automotive, the Model S, in 2012.
Tesla warned buyers initially of final yr that development could also be “notably decrease” in 2024, and claimed that it was an organization in between “two main development waves.” Then, in April, Tesla laid off greater than 10% of its workforce in a restructuring that was meant to re-focus on Musk’s long-promised concept of creating a fully-functioning robotaxi.
At the identical time, Tesla deserted plans to make a $25,000 electrical automobile. The solely different new automobiles it has within the near-term pipeline are mysterious fashions the corporate says might be constructed on present manufacturing traces. They’re anticipated to be cheaper than Tesla’s present choices (which begin within the low $40,000 vary), although it’s not clear by how a lot.
