Global Tesla Vehicle Sales Decline in 2024 for the First Time in Over a Decade

Global Tesla vehicle sales have declined in 2024 for the first time in over a decade, amidst growing competition from China, despite record vehicle shipments in the fourth quarter for the brand.

The manufacturer, founded by Elon Musk, sold 1.79 million vehicles by the end of last year, according to the company itself. This figure narrowly missed the 1.8 million units delivered in 2023 and fell short of analysts' consensus estimates, which anticipated around 1.8 million vehicles.

By the end of the quarter, deliveries totalled 495,570 units, below the expected 512,277 vehicles.

Tesla shares on the US Nasdaq are trading this Thursday with a decline of nearly 6%, down to $380.6 (approximately €369.34 per share).

The company's market capitalisation surged by 50% over the past year, during which Elon Musk has become one of the closest advisors to the US President-elect, Donald Trump.