Tesla's annual deliveries for 2024 decreased compared to the previous year, marking its first-ever annual decline. Tesla shares fell over 3% pre-market following the report, which missed analyst expectations of over 500,000 deliveries. Tesla faced challenges in 2024, including intensified competition, declining European sales, and political distractions from Elon Musk. The Cybertruck faced sluggish demand, while the Model Y struggled to match China's EV market growth. Tesla plans to address these challenges with affordable and autonomous vehicle offerings in 2025, targeting up to 30% growth. Tesla's stock surged in a late-year rally, ending 2024 at a record high, surpassing its previous peak in 2021.
