Tesla reports 1.1% sales drop for 2024, first annual decline in a decade

DETROIT (AP) — Tesla's global sales rose 2.3% in the fourth quarter, but the increase wasn't enough to overcome a sluggish first half, and sales for the full year fell short of 2023 numbers.

It was the first year-over-year sales drop for the Austin, Texas, company since at least 2015, and it came despite offers of discounts 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.