Tesla reports sales decline of 1.1% in 2024, its first annual sales drop in a decade

Tesla sales for the 2024 short of 2023 numbers, as a 2.3% increase in global sales in the fourth quarter was not enough to overcome a sluggish first half of the year.

It was the first year-over-year sales drop for the Austin, Texas, company since at least 2015, and it came despite offers of discounts such as 0% financing, free charging and low-priced leases.

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.