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Tesla has long been one of the hottest stocks.
On Thursday, the stock price had dropped more than 6 percentage points to 378.32 USD.
Tesla sales dropped 1.1% in 2024, its first annual decline in a dozen years.
Tesla’s global vehicle sales rose 2.3% in the final quarter thanks to 0% financing, free charging and low-priced leases. But that was not enough for billionaire Musk’s most valuable holding to overcome a sluggish start to 2024.
The Austin, Texas, company sold 495,570 vehicles from October through December, boosting deliveries to 1.79 million for the full year. That was 1.1% below 2023 sales of 1.81 million as overall demand for electric vehicles in the U.S. and elsewhere slowed.
The year-over-year global sales drop is Tesla’s first since 2011, according to figures from analytics firm Global Data. The company sold 1,306 vehicles in 2010, but that dropped slightly to 1,129 the following year.
The fourth-quarter boost came with a cost. Analysts polled by FactSet expected Tesla’s average sales price to fall to just over $41,000 in the quarter, the lowest in at least four years.
Some 16% of those betting at Manifold Markets believe Tesla's stock will rise to 500 before the presidential inauguration in the US 1/19/2025.
Resolution criteria: Market resolves YES if TSLA stock price exceeds $500 at any point between market creation and January 20, 2025, based on MarketWatch data. Otherwise resolves NO.
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