Tesla's Annual Sales Dropped for the First Time—but the EV Industry Keeps Growing
5 days ago

Tesla's Annual Sales Dropped for the First Time—but the EV Industry Keeps Growing

Wired  

Just a few days into 2025, electric vehicles are already having a roller coaster ride of a year. Global EV sales numbers likely won’t be fully collated till next month, but analysts say that in the US, electric vehicles seem to be on track for a pretty reasonable 8 percent of all car sales in 2024. The way we’re seeing the market evolve is more realistic.” “Everyone is continuing to move forward slowly,” says Corey Cantor, a senior associate who covers electric vehicles at BloombergNEF, of electric cars and their manufacturers. Electrifying “has been one of the largest changes that the auto industry has ever seen—and the auto industry doesn’t change overnight,” says Ivan Drury, director of insights at Edmunds, the automotive website. In 2006, Musk published his “Master Plan” that laid out Tesla’s “overarching purpose”: “to help expedite the move from a mine-and-burn hydrocarbon economy towards a solar electric economy, which I believe to be the primary, but not exclusive, sustainable solution.” Tesla’s annual growth challenges stem, in part, from the fact that the gambit worked, and there is now much more global competition in the EV space.

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History of this topic

Speeding ahead: Auto sector insights by Raja Venkatraman–6 January
3 days, 10 hours ago

Speeding ahead: Auto sector insights by Raja Venkatraman–6 January

Live Mint  

The Indian auto sector has showcased an outstanding performance in 2024. With a record-breaking 26.1 million units sold, marking a 9% year-on-year growth, the sector's resilience and robust demand across various segments have brought it into the limelight. While the sudden revival has piqued interest in the trading and investing community once again, the auto sector's relative strength and its …

'Lost year': Electric car sales go into reverse in Germany
3 days, 11 hours ago

'Lost year': Electric car sales go into reverse in Germany

New Indian Express  

BERLIN: Sales of new electric vehicles in Germany plunged last year, official figures showed Monday, as a slow switch to battery-powered cars deepened the woes of the country's flagship auto industry. Just 380,609 EVs were registered in 2024 in Europe's largest auto market, 27.4 percent fewer than in the previous year, the KBA federal transport authority said. The slump in …

US new vehicle sales rose 2.7% last year as prices and interest rates dropped a little
5 days, 12 hours ago

US new vehicle sales rose 2.7% last year as prices and interest rates dropped a little

Associated Press  

DETROIT — New vehicle sales in the U.S. rose 2.7% last year as prices and interest rates eased a bit, making SUVs, cars and trucks a little more affordable. Despite high sales prices that averaged more than $47,000, automakers sold just over 16 million vehicles in the U.S. last year, Motorintelligence.com said Friday. Electric vehicle sales rose 8.8% for the …

Elon Musk's Tesla sees first sales drop since 2011 as competition rises, Trump support holds back customers
6 days, 1 hour ago

Elon Musk's Tesla sees first sales drop since 2011 as competition rises, Trump support holds back customers

Hindustan Times  

For the first time since 2011, Elon Musk's electric vehicle, Tesla, saw its sales drop by 1.1% in 2024, news agency Associated Press reported, citing the company's sales figures. Tesla CEO and X owner Elon Musk listens as US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC, U.S. on November …

Elon Musk's Tesla sees first annual sales decline: 1.1% drop in 2024
6 days, 15 hours ago

Elon Musk's Tesla sees first annual sales decline: 1.1% drop in 2024

India Today  

For the first time since 2011, Tesla on Thursday reported an annual decline in global vehicle sales, sinking a stock that has soared since Donald Trump’s victory. Tesla’s global vehicle sales rose 2.3% in the final quarter thanks to 0% financing, free charging and low-priced leases. The year-over-year global sales drop is Tesla’s first since 2011, according to figures from …

Tesla sees first drop in number of cars delivered in nine years sending stock tumbling
Trending News
6 days, 18 hours ago

Tesla sees first drop in number of cars delivered in nine years sending stock tumbling

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Tesla's global annual sales …

Tesla’s global vehicle deliveries fell in 2024 for the first time in years
Top News
6 days, 19 hours ago

Tesla’s global vehicle deliveries fell in 2024 for the first time in years

Live Mint  

Tesla’s global vehicle deliveries fell in 2024 for the first time in more than a decade, after a surge of promotional deals in the fourth quarter failed to stimulate sales enough to top the prior-year results. The result—a quarterly record—was up about 2% from a year earlier, but it fell short of the roughly 515,000 vehicles it needed to sell …

Tesla sales dropped 1.1% in 2024, its first annual decline in a dozen years
6 days, 20 hours ago

Tesla sales dropped 1.1% in 2024, its first annual decline in a dozen years

Associated Press  

DETROIT — Tesla posted its first annual sales drop in more than a dozen years Thursday, undercutting a stock that has soared since Donald Trump’s victory on optimism Elon Musk’s close relationship to the president-elect will help the company. “And the first part of this grand strategic vision has taken shape.” The fourth-quarter sales, while a record for Tesla, show …

Tesla posts its first-ever annual sales drop
1 week ago

Tesla posts its first-ever annual sales drop

CNN  

New York CNN — Tesla reported the first full-year drop in sales in its history as a public company Thursday, as increased competition and slowing demand for electric vehicles hit its results. Tesla’s full-year sales of 1.8 million vehicles nonetheless edged out BYD’s annual EV total by 24,000, to retain the title of world’s largest EV maker. Tesla at one …

Tesla’s annual sales fall for first time in company history
1 week ago

Tesla’s annual sales fall for first time in company history

LA Times  

Tesla sales declined for the first time in the company’s history last year, the company reported Thursday, reflecting what analysts said was a lack of new models in an increasingly competitive market for electric vehicles. Given the company’s commanding lead in electric vehicle market share, slow or no growth at Tesla adds another challenge to California Gov. Tesla, once a …

Tesla reports sales drop for 2024, first annual decline in at least 9 years
1 week ago

Tesla reports sales drop for 2024, first annual decline in at least 9 years

LA Times  

Tesla’s global annual sales fell for the first time in at least nine years in 2024. Tesla’s global annual sales fell for the first time in at least nine 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. Analysts polled by …

End of tax incentive results in cheap second hand Tesla’s being sold
1 week, 3 days ago

End of tax incentive results in cheap second hand Tesla’s being sold

NL Times  

A surge in the supply of second-hand electric cars has led to a significant drop in prices for many vehicles, particularly Teslas, which are now hitting the second-hand market after being leased. Rico Luman, a car market analyst for ING, said the price drop has made electric cars, including Teslas, more attractive to buyers. Still, many second-hand Teslas, particularly the …

Five facts about electric vehicles in 2024
1 week, 6 days ago

Five facts about electric vehicles in 2024

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Electric vehicles had another whirlwind …

Five facts about electric vehicles in 2024
1 week, 6 days ago

Five facts about electric vehicles in 2024

Associated Press  

DETROIT — Electric vehicles had another whirlwind year around the globe, driven by buyers in China, and growth in parts of Europe and the United States, despite headwinds. Share Share Copy Link copied Email Facebook X Reddit LinkedIn Pinterest Flipboard Print The global EV market, including pure EVs and plug-in hybrids, grew by 25% year-over-year as of November. Rho Motion …

Thinking of buying an EV? You might want to move quickly
2 weeks, 1 day ago

Thinking of buying an EV? You might want to move quickly

CNN  

New York CNN — The best time to buy an electric vehicle may be right now. “If you buy an EV now, you’re not only sure of getting the EV tax credit that might not be there for much longer, you got incentives from automakers that can’t move them,” said Drury. It won’t get any better.” Industry caught in the …

Electric car sales are slowing in the US and Europe as both fans and skeptics share concerns
1 month, 1 week ago

Electric car sales are slowing in the US and Europe as both fans and skeptics share concerns

Associated Press  

DETROIT — While sales of electric vehicles surge in China, adoption of more environmentally friendly vehicles is stumbling in the United States and Europe as carmakers and governments struggle to meet years-old promises about affordability and charging stations. “Sometimes we found that the charging stations don’t always work, they’re broken down, so that gives you a little bit of anxiety …

New petrol car sales tumble while EVs rise as manufacturers push electric vehicles with targets looming
Trending News
2 months ago

New petrol car sales tumble while EVs rise as manufacturers push electric vehicles with targets looming

Daily Mail  

New car sales fell by 6 per cent in October, marking only the second time registrations have gone into reverse this year. UK new car sales fell by six per cent in October, the second time the new car market has shrunk this year In October, businesses, fleet and private buyers registered 144,288 new passenger cars, the latest figures from …

Tesla suffers first drop in UK sales since 2013
2 months, 3 weeks ago

Tesla suffers first drop in UK sales since 2013

The Telegraph  

Tesla’s UK revenues have fallen for the first time in more than a decade as Elon Musk’s electric car company grapples with a slowdown in demand. The drop in sales brings the company’s recent momentum to a halt in the UK, where it has enjoyed constant sales growth since 2013. Mr Musk’s business is also facing questions about its ageing …

GM delays Indiana EV battery factory amid weak US market growth, seals joint venture deal with Samsung
4 months, 1 week ago

GM delays Indiana EV battery factory amid weak US market growth, seals joint venture deal with Samsung

Live Mint  

Production at an electric vehicle battery cell plant jointly run by General Motors and Samsung SDI has been delayed as EV sales have slowed in the U.S. The companies finalized their agreement Tuesday to jointly run the new factory in New Carlisle, Indiana, near South Bend, but said production would not start until 2027. The project is GM’s fourth joint …

Ford to shift EV strategy to hybrid vehicles
4 months, 2 weeks ago

Ford to shift EV strategy to hybrid vehicles

China Daily  

When it comes to selling electric vehicles, US automakers face not only consumer reluctance but rising competition from China in the international market. Ford Chief Executive Officer Jim Farley said that China's EV companies have the advantage of a lower-cost supply chain and that Ford needs to find ways to lower its own costs to compete. In China, retail sales …

Discounts fail to help drive EV sales in US
4 months, 3 weeks ago

Discounts fail to help drive EV sales in US

China Daily  

Vehicles from Chinese brands wait to be exported from a port in Suzhou, Jiangsu province. In 2023, EV sales grew nearly 50 percent, according to data from Motor Intelligence, a vehicle sales data provider in the US. Consumer interest in buying EVs and hybrids is vastly different in China, where sales sped past internal-combustion-engine cars for the first time last …

Indians who prepaid $1,000 to order Tesla EVs ask for their money back as cars fail to arrive
4 months, 3 weeks ago

Indians who prepaid $1,000 to order Tesla EVs ask for their money back as cars fail to arrive

The Hindu  

In April 2016, Elon Musk invited Indians to preorder the upcoming Tesla Model 3. To woo automakers like Tesla while also protecting domestic carmakers like Mahindra and Maruti Suzuki, India reduced its import duties to 15% from 70%-100% in March 2024 for EVs cheaper than $35,000 — as long the automaker commits to building a factory in the country within …

Indians wanting their money back for undelivered Teslas shows how drastically the EV market changed
4 months, 3 weeks ago

Indians wanting their money back for undelivered Teslas shows how drastically the EV market changed

Associated Press  

HANOI, Vietnam — In April 2016, Elon Musk invited Indians to preorder the upcoming Tesla Model 3. To woo automakers like Tesla while also protecting domestic carmakers like Mahindra and Maruti Suzuki, India reduced its import duties to 15% from 70%-100% in March 2024 for EVs cheaper than $35,000 — as long the automaker commits to building a factory in …

Indians who prepaid $1,000 to order Tesla EVs ask for their money back as cars fail to arrive
4 months, 3 weeks ago

Indians who prepaid $1,000 to order Tesla EVs ask for their money back as cars fail to arrive

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. To woo automakers like Tesla while also protecting domestic …

Switch to electric cars may take ‘longer than anyone expects’
4 months, 3 weeks ago

Switch to electric cars may take ‘longer than anyone expects’

The Telegraph  

The switch to electric cars risks taking far longer than hoped as demand stalls in Europe and America, the boss of one of the world’s biggest parts suppliers has warned. Liam Butterworth, chief executive of GKN Automotive parent Dowlais, said the scrapping of electric vehicle tax breaks in countries such as Germany had triggered a sales slowdown that was reverberating …

Statewide EV sales growth sees a drop. Tesla, once a California darling, hit hard
5 months, 3 weeks ago

Statewide EV sales growth sees a drop. Tesla, once a California darling, hit hard

LA Times  

When does a sales-growth downturn move from a temporary blip to a longer-term trend? After years of rapid expansion, electric vehicles sales growth in California trended down in the middle of last year and now has turned negative: 101,443 all-electric cars were registered in the state in 2024’s second quarter, down from 102,730 in the second quarter of 2023, a …

Electric cars: EV sales are slumping—but that doesn’t mean they're dead.
5 months, 3 weeks ago

Electric cars: EV sales are slumping—but that doesn’t mean they're dead.

Slate  

It’s tough to gauge how well the United States’ burgeoning electric vehicle industry is faring in 2024. EV ownership is increasingly politicized, in both directions—liberals horrified by Elon Musk’s far-right turn are fueling the Tesla sales slump, while right-wingers fearmonger over foreign EV companies and want to get electric cars off the road altogether. You can see this in the …

Rough road ahead for U.S. EVs despite upbeat quarterly sales
6 months ago

Rough road ahead for U.S. EVs despite upbeat quarterly sales

The Hindu  

Better-than-expected U.S. electric-vehicle sales in the second quarter brought relief to investors after a sharp slowdown in demand triggered by high interest rates, but EV makers still face obstacles ahead. EV sales globally are expected to rise to 16.6 million vehicles annually, from 13.7 million in 2023, according to the International Energy Agency, with China’s growth outpacing other regions. Tesla …

Electric car sales sink again as industry calls for tax breaks
6 months ago

Electric car sales sink again as industry calls for tax breaks

The Telegraph  

Household purchases of electric cars have gone further into reverse in the latest sign of trouble facing the market. The Society of Motor Manufacturers and Traders on Thursday called for incentives to “re-energise” sales, as figures showed just one in five new electric vehicles were bought by consumers in the first half of this year. Mike Hawes, the SMMT chief …

Tesla shares rally over 10% as quarterly deliveries beat estimates
6 months ago

Tesla shares rally over 10% as quarterly deliveries beat estimates

Hindustan Times  

Tesla's global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company's products and electric vehicles overall. For the first half of the year, Tesla sold 830,766 electric vehicles worldwide, handily beating China's BYD, which sold 726,153 EVs. Tesla also sold over 33,000 more vehicles during the second …

US new-vehicle sales barely rose in the second quarter as buyers balked at still-high prices
6 months ago

US new-vehicle sales barely rose in the second quarter as buyers balked at still-high prices

Associated Press  

DETROIT — U.S. new-vehicle sales rose only slightly in the second quarter, despite larger discounts and slightly lower prices. Overall, U.S. sales were up only 0.1% compared to a year ago, as still-high prices kept many potential buyers out of the market, according to preliminary tallies Tuesday by Motorintelligence.com. The U.S. industry, he said, is at an inflection point where …

Tesla sales fall in Q2 despite price cuts
6 months ago

Tesla sales fall in Q2 despite price cuts

Associated Press  

DETROIT — Tesla’s global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company’s products and electric vehicles overall. AP AUDIO: Tesla sales fall for second straight quarter despite price cuts, but decline not as bad as expected AP correspondent Tom Krisher reports Tesla sale numbers may be …

Electric car sales tumble across Europe as demand plummets in Germany
6 months, 2 weeks ago

Electric car sales tumble across Europe as demand plummets in Germany

The Telegraph  

Sales of electric vehicles plunged across Europe last month, fuelled by a sharp drop-off in demand in Germany. Official figures show that sales for new EVs fell by 30pc in Germany last month, which led to a broader fall of 12.5pc across the Continent. The European Commission unveiled a raft of new trade tariffs of up to 48pc on EVs, …

Early adopters, mainstream success, buyer’s remorse — where is the EV market headed?
6 months, 4 weeks ago

Early adopters, mainstream success, buyer’s remorse — where is the EV market headed?

LA Times  

The electric vehicle market is steeped in uncertainty. But one analyst says don’t fret: “Our long-term outlook for EVs remains bright.” That’s according to market researcher BloombergNEF, which released the 2024 version of its annual electric vehicle outlook report on Wednesday. Phillip Kampshoff, who leads McKinsey’s Center for Future Mobility in the Americas, said he’d seen EV sales as “a …

Tesla reclaims lead in electric vehicle sales despite year-on-year dip
7 months, 3 weeks ago

Tesla reclaims lead in electric vehicle sales despite year-on-year dip

India TV News  

Tesla, led by Elon Musk reportedly regained the top position in BEV sales in the first quarter of 2024, despite a 9 per cent decline. A new report showed on Monday that Tesla will take the top spot in BEV sales with a 19 per cent market share in Q1. According to Counterpoint Research, among the top three OEMs, only …

Car makers slash EV sales forecast for 2024 as public demand plummets
8 months ago

Car makers slash EV sales forecast for 2024 as public demand plummets

Daily Mail  

New car registrations in the UK grew for the 21st consecutive month in April, rising by 1 per cent, the latest figures from the Society of Motor Manufacturers and Traders show. While BEV growth helped new car registrations rise in April, new BEV sales forecasts for 2024 are below ZEV mandate requirements New car registrations continued to grow for the …

Tesla’s China-made EV sales fall 18% year on year in April
8 months ago

Tesla’s China-made EV sales fall 18% year on year in April

The Hindu  

U.S. automaker Tesla sold 62,167 China-made electric vehicles in April, down 18% from a year earlier, China Passenger Car Association data showed on May 7. China's new-energy vehicle sales including battery-powered EVs and plug-in hybrids were estimated to hit 8,00,000 units in April, up 33% on the year and a 2% drop from the month before, according to CPCA data. …

2024 sees record start to year for electric vehicle sales
8 months ago

2024 sees record start to year for electric vehicle sales

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sales of electric vehicles have got off to a record start this year, the latest …

Crisis or opportunity: traditional automakers in EV race
8 months, 1 week ago

Crisis or opportunity: traditional automakers in EV race

China Daily  

A BYD vehicle on display during an expo in Paris, France. Delving into the changing global auto industry landscape, the article analyzes the challenges facing established automakers like Toyota and the advantages of emerging players, and provides insights into the future development of the industry. Toyota, the reigning champion of gasoline vehicles, has actively downplayed EVs and even hindered the …

Crisis or opportunity: traditional automakers in EV race
8 months, 1 week ago

Crisis or opportunity: traditional automakers in EV race

China Daily  

A BYD vehicle on display during an expo in Paris, France. Delving into the changing global auto industry landscape, the article analyzes the challenges facing established automakers like Toyota and the advantages of emerging players, and provides insights into the future development of the industry. Toyota, the reigning champion of gasoline vehicles, has actively downplayed EVs and even hindered the …

Tesla sales have peaked in California, industry group predicts
8 months, 1 week ago

Tesla sales have peaked in California, industry group predicts

LA Times  

Cars are parked in a lot at the Tesla factory in Fremont, Calif., in 2022. Tesla sold fewer vehicles in California for the second straight quarter, suggesting its popularity in the state may have peaked, according to a report from the California New Car Dealers Assn. While the electric car company still makes some of the top-selling models in California, …

Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles
8 months, 2 weeks ago

Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles

Hindustan Times  

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. On a conference call with analysts, CEO Elon Musk said he expects production to start in the second half of next year “if not late this year.” New factories or massive new …

China continues to drive global EV expansion
8 months, 2 weeks ago

China continues to drive global EV expansion

China Daily  

The BYD EV Dolphin Mini is displayed as the Chinese electric-vehicle producer announces the launch of the low-cost EV in Mexico City, Mexico on Feb 28. Newly published figures in the International Energy Agency's annual Global Electric Vehicle Outlook show that in the first quarter of 2024, sales grew by around 25 percent compared to the same period last year, …

Tesla’s first-quarter net income tumbles 55% as falling global sales and price cuts reduce profits
8 months, 2 weeks ago

Tesla’s first-quarter net income tumbles 55% as falling global sales and price cuts reduce profits

LA Times  

Tesla said it made $1.13 billion from January through March compared with $2.51 billion in the same period a year ago. Tesla’s first-quarter net income plummeted 55% as falling global sales and price cuts sliced into the electric vehicle maker’s revenue and profit margins. Tesla said in a letter to investors Tuesday that its vehicle sales growth “may be notably …

IEA says global EV demand 'motoring along' as sales tipped to be one-in-five in 2024
8 months, 2 weeks ago

IEA says global EV demand 'motoring along' as sales tipped to be one-in-five in 2024

ABC  

In short: The International Energy Agency predicts EV uptake could surge in 2024 to about one-in-five new car sales. The International Energy Agency predicts EV uptake could surge in 2024 to about one-in-five new car sales. By comparison, the IEA said the share of new car sales that were forecast to be electric in Europe and the US was 25 …

Electric cars sold at record discounts as demand plunges
8 months, 2 weeks ago

Electric cars sold at record discounts as demand plunges

The Telegraph  

It suggests dealers are being forced to slash prices to stimulate a significant number of sales, amid a slowdown in demand for electric vehicles globally. Under the so-called zero emissions vehicle mandate imposed by the Government, 22pc of vehicles sold by major car makers must be electric in 2024 – a proportion that will continue to rise until a complete …

Tesla shares tumble below $150 per share, giving up all gains made over the past year
8 months, 3 weeks ago

Tesla shares tumble below $150 per share, giving up all gains made over the past year

Associated Press  

Tesla’s stock tumbled below $150 per share, giving up all of the gains made over the past year as the electric vehicle maker reels from falling sales and steep discounts intended to lure more buyers. Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to draw more buyers. Dan Ives, …

Tesla share price falls 37% in 2024 as Elon Musk’s EV maker suffers demand slowdown; market value drops below $500 bn
8 months, 3 weeks ago

Tesla share price falls 37% in 2024 as Elon Musk’s EV maker suffers demand slowdown; market value drops below $500 bn

Live Mint  

Tesla share price extended fall for 2024, pushing its market valuation briefly below $500 billion amid a round of job cuts this week underscoring that the company’s growth has slowed. Tesla shares have not closed with a market value under $500 billion since late April last year and stayed narrowly above the mark as of Tuesday’s close, Bloomberg News reported. …

Is the global EV bubble bursting? As global demand starts to slow, share prices tank and Tesla cuts 10% of the workforce....are car giants ready to slam the brakes on electric revolution?
8 months, 3 weeks ago

Is the global EV bubble bursting? As global demand starts to slow, share prices tank and Tesla cuts 10% of the workforce....are car giants ready to slam the brakes on electric revolution?

Daily Mail  

Elon Musk's announcement that Tesla will lay off ten percent of its workforce shocked many but it may be inline with figures that suggest the global demand for electronic vehicles is slumping across the world. In the first quarter of 2024, the two biggest manufacturers of electronic vehicles, Tesla and its Chinese rival BYD reported dramatic sales drops compared against …

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