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.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla's annual deliveries for 2024 decreased compared to the previous year,
00:06marking its first-ever annual decline. Tesla shares fell over 3 percent pre-market
00:11following the report, which missed analysts' expectations of over 500,000 deliveries.
00:16Tesla faced challenges in 2024, including intensified competition, declining European
00:21sales and political distractions from Elon Musk. The Cybertruck faced sluggish demand,
00:25while the Model Y struggled to match China's EV market growth.
00:28Tesla plans to address these challenges with affordable and autonomous vehicle offerings
00:33in 2025, targeting up to 30 percent growth. Tesla's stock surged in a late-year rally,
00:38ending 2024 at a record high, surpassing its previous peak from 2021.