Tesla announced its first ever . Total deliveries for 2024 hover at 1.78 million, but the company delivered 1.81 million vehicles in 2023. The company's shares fell as much as seven percent on the news, but have since risen a couple of points. This follows from similar news for the 1st quarter of 2024but that was only for one quarter.
The fourth quarter saw a slight increase in shipments: 495,000 this year and 484,000 in 2023. However, analysts had predicted a more resilient final quarter. . Those analysts expected fourth-quarter shipments to be somewhere around 506,000. Tesla doesn't release actual US sales figures, so these delivery figures are the closest to our data.
In Europe, rates have also declined, with rates expected to be down 14 percent in 2024 compared to last year. This is according to registration data from the European Automobile Manufacturers Association.
We don't have a specific reason why Tesla's deliveries started to be interrupted, but there are many possibilities. The company has yet to create a budget electric car, instead focusing its efforts on And . Patrick George, editor-in-chief of the magazine Inside EVsaid CNBC that cybertrucks began “to accumulate in used car lots.”
The company is also no longer the only EV play in town. It faces stiff competition from but also outdated manufacturers. Companies such as BMW, GM, Hyundai and Volkswagen have begun mass production of electric vehicles. Finally, there is Elon Musk.
Tesla shares still finished the year strong, up 60 percent over 2023. The stock actually hit a new high in December, eclipsing its previous all-time high from 2021.
In other news, I don't know much about stocks. Ford, costs less than $10 per share. Tesla is currently trading at $380 per share, while selling significantly fewer vehicles than Ford and, well, almost every other major automaker. It's possible that competitors' shares will soar if major U.S. auto companies begin to invest more effort in creating humanoid robots. .
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