The total number of Tesla deliveries for 2024 is projected to be around 1.78 million, a slight decrease from the 1.81 million vehicles delivered in 2023. Following a slight uptick in Q4 deliveries, with 495,000 this year compared to 484,000 in 2023, the news caused Tesla's share price to drop by as much as seven percent before recovering slightly. Analysts had predicted stronger Q4 deliveries in the range of 506,000.
While Tesla doesn't release US sales figures, these delivery metrics offer the closest indication. European deliveries also saw a decline of 14 percent in 2024 compared to the previous year, according to registration data from the European Automobile Manufacturers’ Association. The reasons for Tesla's delivery slowdown remain unclear, but several factors could be contributing, including the lack of a budget-friendly EV model despite increased competition from legacy manufacturers like BMW, GM, Hyundai, and Volkswagen who are producing electric vehicles in larger quantities. Additionally, the influence of Elon Musk and Tesla's stock performance, which saw a 60 percent increase in 2024, reaching new highs in December, may also play a role. Tesla's current stock price stands at $380 per share, significantly higher than the under $10 per share price of competing companies like Ford, despite selling fewer vehicles. It is speculated that rival stocks could surge if major US automakers intensified their focus on humanoid robots