- After a few years of features, Tesla gross sales and deliveries dropped
- Tesla’s share of the U.S. EV market has fallen beneath 50%
- U.S. registration figures are but to come back
Tesla gross sales and deliveries turned downward in 2024, after a seemingly unstoppable trajectory of double-digit features for a few years.
Globally, Tesla delivered about 1,789,226 million autos in all of 2024, with manufacturing of about 1,773,443 million autos. Each of these figures are down versus the reported 1,808,581 deliveries and 1,845,985 autos made in 2023.
That’s simply over a 1% drop in deliveries in 2024 and an almost 4% drop in manufacturing for the yr. And it may need been worse and not using a rally within the fourth quarter. Tesla famous that it posted a supply document for This fall, at 495,570 autos.
To check, a yr in the past Tesla was touting some very completely different outcomes. Its 2023 deliveries and gross sales grew 38% and 35%, respectively, over 2022. Tesla’s 2023 gross sales surge was robust, and its gross sales numbers exceeded 2022 numbers each single month of the yr in keeping with DOE information. That stated, China’s BYD continued to edge up on Tesla on the worldwide entrance in 2023.
Tesla CEO Elon Musk at Cybercab occasion (screenshot) – Oct. 2024
In 2023, Tesla CEO Elon Musk turned political and by extension so did Tesla in a manner it by no means had been earlier than. By April 2024, reputational research have been exhibiting the connection, as much more of the American car-buying public related Tesla with Musk. At this level, it is arduous to disregard an array of consumer-sentiment information factors suggesting that the world’s richest man could also be getting in the way in which of Tesla gross sales progress, particularly in California, the place it’s held greater than a tenth of the new-vehicle market.
Tesla’s share of the EV market shrank in 2023 regardless of value cuts, to round 50% of the U.S. EV market, and with 2024 EV gross sales anticipated to rise total by about 20% versus 2023, it is going to definitely lose extra of that in 2024. Tesla had continued these value cuts in 2024, with an April transfer that repositioned the Mannequin Y beneath the Mannequin 3, because of the federal EV tax credit score that Musk has backed eliminating.
The Mannequin 3 and Mannequin Y composed the overwhelming majority of Tesla’s international whole. Simply 94,105 of its international manufacturing and 85,133 of its international deliveries have been of “different fashions”—doubtless together with the Mannequin S, Mannequin X, Cybertruck, and Semi.
2024 Tesla Mannequin Y. – Courtesy of Tesla, Inc.
As a footnote to this: It’s not but clear whether or not Tesla noticed gross sales sputter in the identical manner within the U.S., wanting on the total yr. By October they have been down, nonetheless. Citing registration-based figures via that month, Automotive Information tallied 499,870 gross sales via that month, versus 535,834 for the equal interval in 2023.
Tesla doesn’t report U.S.-market gross sales figures, which typically depend on state registration numbers and their commensurate lag. However we’ll have an concept on these, and whether or not Tesla managed to attain U.S. gross sales features for the yr, inside just a few weeks.