Tesla's global annual sales fell for the first time in at least 9 years, with a 2.3% increase in the final quarter not enough to overcome a sluggish start to 2024 despite offers of 0% financing, free charging and low-priced leases.
Tesla sees first drop in number of cars delivered in nine years sending stock tumbling It is the first annual decline the company has experienced in nine years.
Analysts polled by FactSet expected Tesla's average sales price to fall to just over $41,000 in the quarter, the lowest in at least four years.
In 2022, Tesla predicted that its sales would grow 50% most years, but the prediction ran into an aging model lineup and increased competition in China, Europe and the U.S.
Tesla shares fell nearly 7% Thursday, but they're up more than 50% over the last 12 months, surging with the election victory by Donald Trump.
