Tesla reports 1.1% sales drop for 2024, first annual decline in at least 9 years

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Tesla reports 1.1% sales drop for 2024, first annual decline in at least 9 years
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Tesla reports 1.1% sales drop for 2024, first annual decline in at least 9 years

DETROIT — Tesla’s global sales rose 2.3% in the fourth quarter after a sluggish start to the year that contributed the electric car company’s first year-over-year sales decline since at least 2015.

The annual decline for the Austin, Texas, company came despite offers such as 0% financing, free charging and low-priced leases. Tesla delivered 495,570 vehicles from October through December, boosting deliveries to 1.79 million for the full year. But that was 1.1% below 2023 sales of 1.81 million as overall demand for electric vehicles in the U.S. and elsewhere slowed.

The fourth-quarter boost came with a cost. 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. That doesn’t bode well for Tesla’s fourth-quarter earnings, which the company said it would announce on Jan. 29.Pakistan flag installed at UNSC on assuming non-permanent membership for eighth timeMohsin Naqvi announces upgradation of National Police AcademyUdan Pakistan project will prove to be a good omen for the new year Prime Minister

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