Tesla sales drop 1.1% in 2024, first annual decline in 12 years

Annual sales for Tesla vehicles declined in 2024, compared to the previous year, according to a report released Thursday by the electric vehicle company owned by Elon Musk. 

The report covers 12 years and marks the first time Tesla has released such data over that period.

Sales dropped 1.1% from 2023 to 2024. 

Despite the annual decline, global vehicle sales for Tesla increased 2.3% in the last quarter of 2024 due to financing being at 0%, according to Yahoo Finance.

Tesla, based in Austin, Texas, sold 495,570 vehicles in that quarter, from October through December, and 1.79 million for the entire year. However, the numbers reflect a 1.1% decrease in sales  2023 in which 1.81 million Teslas were sold.

Tesla predicted in 2022 that sales would increase 50% in coming years.