Tesla Cybertruck fails to boost 2024 sales as annual deliveries fall for first time
TechCrunchDEC 28 2024
Tesla Reports First Annual Sales Drop
Above: New Tesla electric vehicles fill the car lot at the Tesla retail location on Route 347 in Smithtown, New York on July 5, 2023. Image copyright: John Paraskevas/Contributor/Newsday LLC via Getty Images
The Spin
Narrative A
The sales decline represents a temporary setback in Tesla's growth trajectory, with the company positioned to achieve 20%-30% delivery growth in 2025 through the launch of new lower-priced models and autonomous driving initiatives, while maintaining its position as the global EV leader.
Narrative B
Tesla faces mounting challenges from increasing competition, particularly from BYD in China and legacy automakers globally, while struggling with aging product lines and reduced demand despite aggressive price cuts and incentives, indicating deeper structural challenges in maintaining market dominance.