National News 2025-01-05

Tesla delivered 1.79 million vehicles, a drop from 2023's 1.81 million.

REPORT BY : SPOTON WEALTH
This was its first decline since 2011. The company delivered 495,570 vehicles in the last quarter, up 2.3% from the previous year. However, this fell short of the 500,000 target. Despite this, Tesla remains the top EV maker globally. Yet, it faces tough competition from BYD, a Chinese company. BYD sold 1.76 million pure EVs and 4.3 million EVs and hybrids in 2024. Following Tesla's report, shares fell over 6%. Investors are now skeptical about CEO Elon Musk's 2025 sales growth forecast of 20-30%. Tesla also faces political challenges due to Musk's ties with President-elect Trump and California's tax policies. The company is shifting focus towards autonomous driving, AI, and robotics. It aims to launch a self-driving Cybercab by 2027.

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