Tesla’s January performance in France, the EU’s second-largest EV market, was significantly weaker than the overall market trend. Registrations dropped a dramatic 63%, totaling just 1,141 vehicles — the lowest since August 2022. This decline contrasts with a small overall decrease in industry sales and EV sales specifically. The sharp fall in Tesla registrations suggests challenges for the company in this key European market.
Tesla’s fourth-quarter 2024 deliveries totaled 495,570 vehicles, falling short of analyst expectations and marking the company’s first annual decline in deliveries with 1,789,226 total vehicles delivered in 2024. Production for the quarter reached 459,445 vehicles. This news caused a significant drop in Tesla’s stock price. The lower-than-expected results follow a strong year for Tesla stock, which saw a 63% increase in 2024, but contrasts with CEO Elon Musk’s prediction of continued, albeit slower, sales growth.
John Q. Hosedrinker