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 point was reporting annual sales growth of nearly 50% a year, and its 2023 sales total was up a solid 37% from 2022, so even a narrow decline represents a significant slowdown. Even though those legacy automakers have only a fraction of Tesla’s EV sales, as they sell mostly traditional gasoline-powered cars, they are posing more competition.

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History of this topic

'Lost year': Electric car sales go into reverse in Germany
3 days, 9 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 …

Tesla's Annual Sales Dropped for the First Time—but the EV Industry Keeps Growing
4 days, 22 hours 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 …

US new vehicle sales rose 2.7% last year as prices and interest rates dropped a little
5 days, 11 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 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, 14 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, 17 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, 18 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, 19 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’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 …

BYD to outsell Ford, Honda, beat 2024 sales goals heartily as Tesla continues to struggle in China
4 weeks, 2 days ago

BYD to outsell Ford, Honda, beat 2024 sales goals heartily as Tesla continues to struggle in China

Firstpost  

By the end of November, BYD had already delivered 3.76 million vehicles, including over 500,000 units in November alone, putting it on track to surpass its 4 million sales goal for the year The robust performance in China—where over 90 per cent of BYD’s sales occur—places the company ahead of Honda and Ford in global rankings for 2024. Image Credit: …

Electric vehicles made up a QUARTER of new car sales in November but still fall short of Government targets despite £4bn worth of discounting
Trending News
1 month ago

Electric vehicles made up a QUARTER of new car sales in November but still fall short of Government targets despite £4bn worth of discounting

Daily Mail  

Electric vehicles accounted for more than a quarter of all new cars bought in the UK last month but demand is being propped up by 'unsustainable' manufacturer discounts, the trade body has warned. New car sales in the UK declined by 1.9 per cent in November, with 153,610 motors joining the road, latest figures from the Society of Manufacturers and …

The withering dream of a cheap American electric car
1 month, 3 weeks ago

The withering dream of a cheap American electric car

Live Mint  

The dream of a $25,000 electric vehicle for U.S. drivers is in trouble. Musk isn’t alone in taking a sour view of making a cheap EV for the U.S. “That market sucks,” Peter Rawlinson, chief executive of Lucid Motors, told me and my colleague Christopher Mims for our new podcast, called “Bold Names.” Lucid which has begun taking orders for …

Elon Musk's Tesla hits $1 trillion market value after Trump win
2 months ago

Elon Musk's Tesla hits $1 trillion market value after Trump win

India Today  

Tesla's market value closed above the $1 trillion mark in a sharp rally on Friday, on expectations that CEO Elon Musk's companies will get favourable treatment under President-elect Donald Trump for his extensive support during the poll campaign. "Tesla and CEO Elon Musk are perhaps the biggest winners from the election result, and we believe Trump's victory will help expedite …

Sales of used electric cars reach record high
Trending News
2 months ago

Sales of used electric cars reach record high

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Giving consumers the confidence to switch from their familiar petrol or diesel vehicles requires confidence and incentives …

Sales of new cars slump as drivers shun electric and diesel vehicles
Trending News
2 months ago

Sales of new cars slump as drivers shun electric and diesel vehicles

Daily Mail  

Sales of new cars fell by 6 per cent last month. Industry body the Society of Motor Manufacturers and Traders said 144,288 new cars were registered in October. Industry body, the Society of Motor Manufacturers and Traders said 144,288 new cars were registered in October. SMMT chief executive Mike Hawes said: ‘Massive manufacturer investment in model choice and market support …

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 …

Chinese EV maker BYD’s revenue beats Tesla for first time
2 months, 1 week ago

Chinese EV maker BYD’s revenue beats Tesla for first time

CNN  

Beijing — Chinese electric vehicle maker BYD posted an 11.5% rise in third-quarter net profit on Wednesday as it maintained strong sales momentum helped by government trade-in incentives. With third-quarter revenue up 24% on year to 201.1 billion yuan, BYD’s quarterly revenue for the first time outpaced Tesla, whose revenue for the July-September quarter reached $25.2 billion. BYD, whose cars …

Tesla Soars 4.43% on Strong Q3 Results, Up 1.29% on Nasdaq
Trending News
2 months, 2 weeks ago

Tesla Soars 4.43% on Strong Q3 Results, Up 1.29% on Nasdaq

Live Mint  

Tesla shares continue to rally, with the company reporting a strong third-quarter profit. The stock rose 4.43 per cent, reaching a new high of $269.11. Tesla's net income increased by 17%, marking a turnaround from the previous quarter's decline. The company's revenue also increased, contributing to the positive performance.

Tesla's Q3 Results: A Strong Comeback for the EV Giant
Trending News
2 months, 2 weeks ago

Tesla's Q3 Results: A Strong Comeback for the EV Giant

ABP News  

Tesla's Q3 net income rises 17% on strong sales, marking a turnaround for the company. The strong performance is attributed to robust electric vehicle (EV) sales, with the company projecting a 20-30% increase in sales for 2025. Tesla's cost-saving efforts have also contributed to the improved financial performance, with the gross profit margin reaching its highest level in a year.

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 …

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 …

Ford to shift electric vehicle strategy with lower-cost pickups and a commercial van
4 months, 2 weeks ago

Ford to shift electric vehicle strategy with lower-cost pickups and a commercial van

LA Times  

Ford, which has long been talking about making profitable EVs, lost $2.46 billion on them in the first half of the year. Facing competition from automakers with lower costs, Ford Motor Co. is shifting its electric vehicle strategy and now will focus on making two new electric pickup trucks and a new commercial van. The company also says it won’t …

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 …

Tesla’s auto woes crash Elon Musk’s AI dreams
5 months, 2 weeks ago

Tesla’s auto woes crash Elon Musk’s AI dreams

Live Mint  

Tesla finally has financial results to support the argument that it is more than a car company. At last, claims that Tesla isn’t just a car company have some grounding in the numbers, rather than merely in the expansive vision of chief executive Elon Musk. Tesla’s second-quarter delivery update already made the strength of the energy business clear, so this …

Tesla faces 45 per cent profit drop in Q2, Musk teases Robotaxi announcement in October
5 months, 2 weeks ago

Tesla faces 45 per cent profit drop in Q2, Musk teases Robotaxi announcement in October

India TV News  

Tesla, Elon Musk's electric automobile company has reported being in profit for the April-June period this year by USD 1.5 billion- which was down by 45 per cent from the same period in 2023. Total revenue was up 2 per cent at USD 25.5 billion, but automotive revenues were down 7 per cent to USD 19.9 billion, according to the …

Tesla’s 2Q profit falls 45% to $1.48 billion as sales drop despite price cuts and low-interest loans
5 months, 2 weeks ago

Tesla’s 2Q profit falls 45% to $1.48 billion as sales drop despite price cuts and low-interest loans

Associated Press  

DETROIT — Tesla’s second-quarter net income fell 45% compared with a year ago as the company’s global electric vehicle sales tumbled despite price cuts and low-interest financing. Tesla said it posted record quarterly revenue “despite a difficult operating environment.” The company’s energy-storage business took in just over $3 billion in revenue, double the amount in the same period last year. …

Tesla’s quarterly profit falls 45% as sales drop despite price cuts
5 months, 2 weeks ago

Tesla’s quarterly profit falls 45% as sales drop despite price cuts

LA Times  

Tesla’s second-quarter net income fell 45% compared with a year ago as the company’s global electric vehicle sales tumbled despite price cuts and low-interest financing. Earlier this month Tesla said it sold 443,956 vehicles from April through June, down 4.8% from 466,140 sold in the same period a year ago. For the first half of the year, Tesla has sold …

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 …

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 …

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 …

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 …

Tesla fires hundreds of employees a week after major profit slump
8 months, 1 week ago

Tesla fires hundreds of employees a week after major profit slump

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 Elon Musk is eliminating …

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 …

Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles
8 months, 2 weeks ago

Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles

Associated Press  

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 …

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 …

Tesla cuts prices amid global challenges
8 months, 2 weeks ago

Tesla cuts prices amid global challenges

China Daily  

This file photo taken on Jan 12, 2018, shows a Tesla logo seen in Los Angeles, California, the US. The world's largest EV maker by volume, which is owned by the technology billionaire Elon Musk, said it would reduce prices in all of its major markets, which include the US, Germany, and China. The Chinese smartphone maker Xiaomi has also …

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 …

Tesla cuts the price of its “Full Self Driving” system by a third to $8,000
8 months, 2 weeks ago

Tesla cuts the price of its “Full Self Driving” system by a third to $8,000

Associated Press  

NEW YORK — Tesla knocked roughly a third off the price of its “Full Self Driving” system — which can’t drive itself and so drivers must remain alert and be ready to intervene — to $8,000 from $12,000, according to the company website. The cuts, which occurred on Saturday, follow Tesla’s moves to slash $2,000 off the prices of three …

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 …

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