January 3, 2025 – Tesla has recently released its 2024 fourth-quarter delivery figures, revealing a total of 178.92 million vehicles delivered for the year. This marks the first decline in the company’s annual sales in a decade, triggering a significant drop in its stock price.
On January 2nd, local time, Tesla’s stock opened lower and continued to decline throughout the trading session, eventually closing down 6.08%. This resulted in a loss of market capitalization of $78.8 billion, with the stock experiencing its fifth consecutive daily decline. The closing price hit a new low since December 6th of last year.
Investors are now questioning Tesla’s future profitability due to the company’s first annual sales decline since 2015, which has contributed to the drop in its share price. Tesla is scheduled to announce its 2024 fourth-quarter financial results after the market closes on January 29th, 2025.
Despite the overall sales decline, Tesla highlighted in its 2024 year-end summary report that the Model Y is expected to become the world’s top-selling vehicle for the second consecutive year, following its strong sales performance in 2023. The company remains optimistic about the Model Y’s continued market dominance.
