In a historic first, Tesla, led by Elon Musk, reported a 1.1% decrease in vehicle sales in 2024, delivering 1.79 million units, 19,355 fewer than in 2023. Key factors for the decline include weakened demand in Europe and increased competition from Chinese manufacturers like BYD. While Tesla expected a slight uptick, it fell short of its delivery target, particularly after a weak first quarter. Musk indicated that Tesla is in a transitional phase, with anticipated growth linked to upcoming innovations like robotaxis. The company’s stock faced a decrease amid these challenges.

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