Tesla delivered fewer vehicles in 2024 than in 2023. A first. The Chinese BYD is close behind him.
Tesla may have increased promotions to sell off its stocks, but the American manufacturer delivered fewer cars in 2024 than the previous year: 1.79 million, or 1.1% less than a year ago. This is a first in the history of the company led by Elon Musk. The reduction in European subsidies on electric vehicles, the evolution of the market in the United States in favor of cheaper hybrid vehicles, and tougher competition, particularly from the Chinese BYD, have put Tesla under pressure.
Analysts at Morgan Stanley said Tesla's aging models and the growing availability of cheaper vehicles have outweighed the rebates. Many question Tesla's ability to achieve 20% to 30% sales growth in 2025, the goal set by Musk. Especially since Donald Trump's team – of which Elon Musk is a part – is considering ending the $7,500 tax credit for the purchase of an electric vehicle, which could further slow down the transition to electric in the United States.
BYD again second
Musk is banking on Autopilot and Full Self-Driving autonomous driving technologies, but these still do not achieve a level of real autonomy and are the subject of an investigation by the American road safety regulatory authorities and of a criminal investigation by the Department of Justice.
Big Chinese rival BYD failed to dethrone Tesla last year. BYD certainly delivered more than 4.27 million vehicles, all categories combined, or 41.3% more than in 2023. But the Shenzhen group only sold 1.76 million electric vehicles, narrowly missing the first place on the podium.
