Tesla experienced its first annual decline in sales in 2024 with a total of 1,789,226 vehicles delivered, down from 1,808,581 in 2023 due to increased competition.
During the last quarter of 2024, Tesla achieved record sales figures delivering 495,570 vehicles, a slight increase from 484,507 in the previous quarter.
Despite the decline, Tesla still holds a dominant market share, accounting for nearly half of all electric vehicles sold in the U.S., although competition is intensifying.
Rivals like BYD, General Motors, and Volkswagen have started to challenge Tesla's market dominance with a wide range of newer designs and competitive price points.
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