Tesla Hit Hard as EV Sales Slump Into 2025: Rivals Gain Momentum
Tesla faces its first annual sales decline amid a challenging market for electric vehicles. In 2024, Tesla's deliveries fell to 1.79 million, down slightly from the previous year, with shares dropping 6% post-announcement. Meanwhile, Tesla's market share in the U.S. and Europe has decreased due to increased competition from rivals like GM, Ford, VW, and China's BYD and Geely. The end of U.S. tax credits under Trump adds additional hurdles, but Elon Musk remains optimistic about future innovations like the 'cyber cab.'
Dec 14